Dutch electronics giant Philips and US media group AOL Time Warner have announced a multi-year marketing agreement to help promote each other's brands worldwide.
No financial details were provided, however.
Philips' consumer electronics and domestic appliance products will be promoted on AOL websites as well as in Time Warner print and broadcast media such as CNN and Time and Fortune magazines.
Philips will use its distribution networks to help AOL attract new subscribers. The companies also agreed to work together on developing next-generation set-top boxes and interactive TV services.
Set-top boxes are descendants of cable TV boxes which provide Internet access and e-commerce to consumers via their television sets."the alliance will extend Philips' reach and brand awareness in the U.S., and AOL Time Warner will have greater access in Philips' backyard - Europe," Philips Chief Executive Gerard Kleisterlee said,.