PDA

View Full Version : Canadian Authorities Permit Apple-Led Acquisition of Nortel Patents to Proceed




MacRumors
Jul 19, 2011, 01:32 PM
http://images.macrumors.com/im/macrumorsthreadlogo.gif (http://www.macrumors.com/2011/07/19/canadian-authorities-permit-apple-led-acquisition-of-nortel-patents-to-proceed/)


http://images.macrumors.com/article-new/2011/06/nortel_logo1-150x39.jpg

Reuters reports (http://www.reuters.com/article/2011/07/19/nortel-canada-idUSN1E76I1AG20110719) that Canadian authorities have declined to review the $4.5 billion purchase (http://www.macrumors.com/2011/07/01/nortel-patents-sold-to-consortium-which-includes-apple/) of Nortel's patent assets by an Apple-led consortium, determining that the transaction is not subject to certain regulations regarding foreign investments.Under the Investment Canada Act, the government must review foreign investments with a book value of more than C$312 million ($328 million) to determine if they are of "net benefit" to the country.

But while the Nortel patents' sale price clearly exceeds that threshold, the book value may be far lower. Industry Minister Christian Paradis said investment review officials had come to the conclusion that the sale was not subject to a net benefit review after examining the applicable rules and threshold values.

"Based on the information provided by the investor and Nortel's 2010 audited financial statements, the acquisition of the Nortel patents is not subject to review for net benefit under the Act," Paradis said in a statement.Bankruptcy courts in Canada and the United States have already approved (http://www.macrumors.com/2011/07/11/bankruptcy-courts-approve-nortel-patent-sale-to-apple-consortium/) the transaction, which has been said to provide Apple with clear ownership (http://www.macrumors.com/2011/07/03/apple-has-outright-ownership-of-nortels-lte-4g-patents/) of a number of patents related to LTE cellular technology.

The purchase may not be entirely in the clear yet, however, as federal antitrust investigators (http://www.macrumors.com/2011/07/10/antitrust-investigation-of-apple-led-nortel-patent-purchase/) have expressed concern over the possibility that Google may have faced an "unfair coalition" of companies in the bidding for the patents.

Article Link: Canadian Authorities Permit Apple-Led Acquisition of Nortel Patents to Proceed (http://www.macrumors.com/2011/07/19/canadian-authorities-permit-apple-led-acquisition-of-nortel-patents-to-proceed/)



*LTD*
Jul 19, 2011, 01:45 PM
This is big, folks. It will lead to some interesting moves by The Consortium.

Doctor Q
Jul 19, 2011, 07:43 PM
Apple has to buy patents because it can't innovate (http://www.macrumors.com/2011/07/19/google-chairman-not-too-worried-about-apple-lawsuits-over-android/). :rolleyes:

But I think Google will still manage to stay in business somehow.

Caspercdn
Jul 19, 2011, 08:22 PM
The Canadian dollar is worth $1.05 to the US dollar. Not the other way around...
Also Q, isn't Google buying patents too? I suspect all will live healthy lives.

*LTD*
Jul 19, 2011, 10:25 PM
The Canadian dollar is worth $1.05 to the US dollar. Not the other way around...
Also Q, isn't Google buying patents too? I suspect all will live healthy lives.

Buying patents from whom?

Seems there aren't many left to buy at the moment, especially after the Nortel sale. Google's competitors seem to own a lot of the critical ones.

Caspercdn
Jul 20, 2011, 06:49 PM
Google and Apple are two of many bidding on buying up Nortel's patents. (EMC, Ericsson, Microsoft, RIM and Sony)