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: Struggling BlackBerry announces new round of layoffs

0 shares

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

Uber drivers fined in Hungary

13 hours ago

The Hungarian tax authority fined Uber drivers in its first probe against the ride-sharing service which the economy ministry said Saturday "ignores passenger safety" and must be made to follow regulations.

Domino's taking orders via tweet

May 22, 2015

Domino's on Wednesday launched perhaps the easiest way to satisfy a pizza craving this side of mind reading: order by tweet.

User comments : 0

Please sign in to add a comment. Registration is free, and takes less than a minute. Read more

Click here to reset your password.
Sign in to get notified via email when new comments are made.