Benzinga | Sep 8, 2021 03:08PM EDT

3M, Luxshare Sign Agreement for Using Twin Axial Cable Technology

* 3M Co (NYSE:MMM) subsidiary 3M Innovative Properties Co. and Luxshare Technology Co., Ltd., signed a limited patent license agreement to use the Twin Axial Cable technology from 3M.

* The agreement will give server designers and manufacturers greater flexibility when selecting high-speed, 3M Twin Axial Cable supply options for cloud and enterprise server applications.

* Luxshare has taken a global royalty-bearing patent license from 3M as part o the agreement.

* Price Action: MMM shares are trading higher by 1.23% at $187.86 on the last check Wednesday.