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Google today announced that it has struck a deal with MPEG LA that will allow it to license patents essential to Google’s VP8 and previous generation VPx video compression technologies. The deal will allow Google to stop MPEG LA’s efforts to form a “VP8 patent pool” made up of the 11 patents Google has licensed today.

It will also allow Google to sublicense the VP8 technology to others and sublicense “VP8 techniques in one next-generation VPx video codec.”

Deputy General Counsel for Patents at Google Allen Lo said the deal is a “significant milestone”:

“This is a significant milestone in Google’s efforts to establish VP8 as a widely-deployed web video format. We appreciate MPEG LA’s cooperation in making this happen.”

The press release (below) didn’t provide any financial information related to the licensing agreement: expand full story