For a start, one or both sides may simply want to borrow the other's features -- a blanket agreement eliminates the chances of lawsuits and simplifies the licensing process. There's also a chance that Google is using the deal to guarantee that LG won't stray too far from the official Android strategy.
It's not certain that this is the case, though; unlike Samsung, LG hasn't been in a rush to replace Google software and services with its own. Whatever the motivations, it's doubtful that these companies will duke it out in the courtroom any time soon.
