With the agreement in place, the two will collaborate on technology and content for the machines, and Intel will get a place on OLPC's board. With Intel's recently development of a similar machine to the OLPC, obviously they have heavy R&D poured into such an endeavor. Given the ultimate goal of the projects, it is probably in both their best interests to work together rather than bicker in the press.
No other details are provided in Intel's press release. It would be interesting to see if Intel plans on funding any of the OLPC project, especially since they recently had to raise the cost of the unit. It also makes one wonder what the future of the Classmate PC is.