- Apr 12, 2001
Nortel today announced that it has officially completed the $4.5 billion sale of over 6,000 patents to a consortium of companies led by Apple. The proposed sale had previously passed muster with both bankruptcy courts and Canadian regulatory authorities, and antitrust concerns regarding the bidding process appear to have also been satisfied.
Apple last week revealed that it had contribution $2.6 billion to the total purchase price and it has been claimed that Apple's stake entitles it to outright ownership of the LTE-related patents as well as others that could be used to hinder Android.Nortel Networks Corporation announced that it,its subsidiary Nortel Networks Limited (NNL), and certain of its other subsidiaries, including Nortel Networks Inc. and Nortel Networks UK Limited (in administration), have completed the sale of all of Nortel's remaining patents and patent applications to a consortium consisting of Apple, EMC, Ericsson, Microsoft, Research In Motion and Sony, for a cash purchase price of US$4.5 billion.
As previously announced, the sale includes more than 6,000 patents and patent applications spanning wireless, wireless 4G, data networking, optical, voice, internet, service provider, semiconductors and other patents. The extensive patent portfolio touches nearly every aspect of telecommunications and additional markets as well, including Internet search and social networking.
Article Link: Nortel Completes $4.5 Billion Patent Sale to Apple-Led Consortium