Judges in US, Canada approve Nortel patents sale

Jul 11, 2011 By RANDALL CHASE , AP Business Writer

(AP) -- U.S. and Canadian judges have approved a $4.5 billion cash bid from a consortium that includes smartphone makers Apple and Research In Motion for patents held by bankrupt telecom-equipment maker Nortel.

The judges approved the results of Nortel's patent auction at a joint hearing Monday, just over a week after the consortium offered five times more than Inc.'s initial bid of $900 million for some 6,000 patents and patent applications. Phones running Google's Android system compete with Apple Inc.'s iPhone and Research in Motion Ltd.'s BlackBerry devices.

The patents represent the last of Nortel's major assets and cover a variety of technologies, including wireless and data networking.

Toronto-based Nortel Networks Corp. filed for in 2009 and has been selling off its operations bit by bit since then.

Explore further: Facebook CEO wants more students to explore tech

not rated yet
add to favorites email to friend print save as pdf

Related Stories

Courts OK $1.13B sale of Nortel assets to Ericsson

Jul 28, 2009

(AP) -- U.S. and Canadian courts have approved Swedish wireless company LM Ericsson's $1.13 billion bid to buy next-generation wireless technology and other assets from insolvent telecom equipment maker Nortel Networks Corp.

Ciena wins court approval for Nortel unit bid

Oct 16, 2009

(AP) -- Ciena Corp. won court approval Thursday to start bidding on Nortel Network Corp.'s optical and Ethernet division with an offer valued at more than $532 million.

Nortel Networks' patent portfolio up for auction

Jun 10, 2011

One of the more intriguing auctions scheduled later this month won't involve fine art or vintage sports cars or other expensive trinkets, but it is expected to attract some deep pockets.

Ciena bids $521M for Nortel business units

Oct 07, 2009

(AP) -- Ciena Corp. is offering cash and stock worth $521 million to acquire some of Nortel's most-prized remaining business units as the fallen telecommunications company continues to liquidate.

Recommended for you

Alibaba prices IPO at $68 per share

5 hours ago

Alibaba, the Chinese e-commerce powerhouse named after a fabled, poor woodsman who discovers a thieves' den full of treasures, is ready to strike it rich on the New York Stock Exchange.

Larry Ellison releases helm of mighty Oracle ship

7 hours ago

Tycoon yachtsman Larry Ellison on Thursday stepped down as Oracle's chief executive, trusting a pair of lieutenants to steer the titanic business software firm he helped launch decades ago.

Alibaba's plan: Today, China. Tomorrow, the world.

12 hours ago

Amazon and eBay should watch their backs. As Chinese e-commerce powerhouse Alibaba readies what could be the biggest initial public offering ever on the New York Stock Exchange, it is quietly hinting at plans ...

User comments : 0