Nortel Announces the Winning Bidder of Its Patent Portfolio for a Purchase Price of US$4.5 Billion Press Release Source: Nortel On Thursday June 30, 2011, 11:50 pm
TORONTO, ONTARIO--(Marketwire - 06/30/11) - Nortel(1) Networks Corporation (OTC.BB:NRTLQ - News) announced today that it, its subsidiary Nortel Networks Limited (NNL), and certain of its other subsidiaries, including Nortel Networks Inc. and Nortel Networks UK Limited (in administration), have concluded a successful auction of all of Nortel's remaining patents and patent applications. After a multi-day auction, a consortium emerged as the winning bidder with a cash purchase price of US$4.5 billion. The consortium consists of Apple, EMC, Ericsson, Microsoft, Research In Motion and Sony.
The sale includes more than 6,000 patents and patent applications spanning wireless, wireless 4G, data networking, optical, voice, internet, service provider, semiconductors and other patents. The extensive patent portfolio touches nearly every aspect of telecommunications and additional markets as well, including Internet search and social networking. |