Google is bidding US$900 million in money for thousands of patents that Nortel can auction off as a part of its bankruptcy proceedings, the businesses said Monday.
The proposed deal is what is referred to as a “stalking horse” asset sale agreement, where the Google provide sets the minimum bar for different bidders for the portfolio of regarding half dozen,000 patents and patent applications, that cowl a broad vary of telecommunications, web search and social networking technologies.
Nortel expects the agreement to receive approval from U.S. and Canadian courts in June, when that the bidding can open for the intellectual property portfolio that “touches nearly each side of telecommunications,” Nortel said during a statement.
The telecommunications technologies lined within the patent portfolio embrace wireless, 4G, knowledge networking, optical, voice, Internet, service supplier and semiconductors, Nortel said.
Meanwhile, Google said that it’s bidding for the Nortel portfolio to defend itself against patent litigation and to spice up its technology innovation, specifically in its Android mobile platform and Chrome OS and browser.
“If successful, we have a tendency to hope this portfolio won’t solely produce a disincentive for others to sue Google, however additionally facilitate us, our partners and therefore the open supply community — that is integrally concerned in comes like Android and Chrome — still innovate,” Kent Walker, senior vp and general counsel, said during a blog post.