Google puts $900M bid on Canada's 'national treasure' Nortel patents
By Tim Conneally | Published April 4, 2011, 12:48 PM
Bankrupt Canadian telecommunications company Nortel Networks Corp. has selected Google as the stalking horse bidder in the auction for the company's vast and highly valuable patent portfolio.
Nortel first went into Chapter 11 bankruptcy in January 2009 and has been selling off its assets since that time. In 2009, the company sold off its Enterprise Solutions Business and shares of Nortel Government Solutions and DiamondWare to Avaya for $900 million; and its CDMA and LTE Access businesses went to Ericsson for $1.13 billion.
But this auction is the biggest deal of them all. Research in Motion co-CEO Mike Lazardis called Nortel's LTE intellectual property portfolo "a national treasure that Canada must not lose."
Read More...http://www.betanews.com/article/Google-puts-900M-bid-on-Canadas-national-treasure-Nortel-patents/1301935762
Google puts $900M bid on Canada's 'national treasure' Nortel patents
Bankrupt Canadian telecommunications company Nortel Networks Corp. has selected Google as the stalking horse bidder in the auction for the company's vast and highly valuable patent portfolio.
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