Microsoft and Nikon have signed a patent cross-licensing agreement that will see the duo aid the further development of each other's current and future product lines.

The agreement covers digital cameras made by Nikon as well as a number of other consumer products made and sold by the pair.

The exact details of the agreement have not been made public at the moment, but both parties have indicated that Microsoft is being compensated by Nikon.

The benefit of the agreement according to Microsoft is that both companies will be able to "innovate openly" with each other's technology, which should enable "new features and products to come to market".

"This agreement will extend and enhance our already successful, long-standing collaboration with Nikon, and will allow us to provide even better products to our customers", said Josh Weisberg, director of the Rich Media Group at Microsoft.

Nikon director, Naoki Tomino added: "At Nikon, we want to continue to lead the industry in pioneering photography solutions and give our customers access to innovative technology".

"This agreement is a natural extension of our long-standing relationship with Microsoft, and we look forward to collaborating and bringing exciting new products to the market."