Tag: nortel

Google is bidding US$900 million in cash for thousands of patents that Nortel will auction off as part of its bankruptcy proceedings, the companies said Monday.

The proposed deal is what’s known as a “stalking horse” asset sale agreement, where the Google offer sets the minimum bar for other bidders for the portfolio of about 6,000 patents and patent applications, which cover a broad range of telecommunications, Internet search and social networking technologies. Continue reading “Google bids $900M for Nortel patent portfolio”

Apple is contributing more than half the total US$4.5 billion price tag for Nortel patents, with partners including Microsoft and Sony combined kicking in the rest.

Apple reported on Wednesday in a filing with the U.S. Securities and Exchange Commission that it will contribute approximately $2.6 billion toward the cost of the Nortel patent acquisition.

After filing for bankruptcy protection in 2009, Nortel has been selling off pieces of its business. It recently auctioned off its portfolio of about 6,000 patents. A consortium that includes Apple, Microsoft, Sony, Research In Motion, EMC and Ericsson had the winning $4.5 billion bid. As Apple noted in its SEC filing, the offer is still subject to regulatory approval. Continue reading “Apple-bears half the cost of Nortel patents”