$4.5 Billion for Nortel Patents; Ericsson Gets a Piece

A consortium of technology companies, of which Ericsson is a part, emerged as the winning bidder for all of Nortel's remaining patents and patent applications for a cash purchase price of $4.5 billion. The transaction is subject to approval by the U.S. and Canad...

A consortium of technology companies, of which Ericsson is a part, emerged as the winning bidder for all of Nortel's remaining patents and patent applications for a cash purchase price of $4.5 billion. The transaction is subject to approval by the U.S. and Canadian Bankruptcy Courts. Ericsson's contribution to transaction, expected to close in the third quarter of 2011, was $340 million.

The Nortel patent portfolio comprises approximately 6,000 patents and patent applications from the information and communication technologies industry, including telecommunications, Internet search and social networking. It covers mobile, LTE and data networking as well as optical, Internet, service provider, semiconductors and other patent portfolios.
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