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Nortel patent portfolio sells for US$4.5 billion

Nortel Networks Corp. has concluded a successful auction of all of its 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...


July 6, 2011  


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Nortel Networks Corp. has concluded a successful auction of all of its 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, the company said in a release.

“Following a very robust auction, we are pleased at the outcome of the auction of this extensive patent portfolio”, said George Riedel, chief strategy officer at Nortel. “The size and dollar value for this transaction is unprecedented, as was the significant interest in the portfolio among major companies around the world.”

The sale is subject to applicable Canadian and U.S. Court approvals which will be sought at a joint hearing expected to be held on July 11.