US court approves Google's $900M bid for Nortel patents

Google's bid will set the minimum price for an auction of the patent portfolio scheduled for June 20

Nortel Networks has obtained court approval to accept a US$900 million bid from Google for the entirety of its remaining patent portfolio, it said Monday.

The former network equipment maker announced on April 4 that it plans to sell around 6,000 patents, either issued or applied for, in the field of wired and wireless digital communications.

Google's $900 million bid was the result of several confidential rounds of bidding involving other companies and consortia. Apple and Nokia were rumored to be among the rival bidders.

The approval, from the U.S. Bankruptcy Court for the District of Delaware and from the Ontario Superior Court of Justice, does not necessarily mean Google will walk off with the patent assets. It made a so-called "stalking horse" bid, effectively setting the minimum asking price in an auction for the assets scheduled to take place on June 20. Rival bidders will have to submit initial offers by June 20 in order to qualify.

Nortel has been slowly selling off its assets since filing for protection under U.S. Chapter 11 bankruptcy proceedings in January 2009, following a failed attempt to restructure the company without court protection. That year, Ericsson paid just over $1 billion for the company's CDMA (Code Division Multiple Access) wireless division, while Avaya paid just under $1 billion for its enterprise networking business.

Since then, the sale items have become less tangible, with Nortel announcing in late March that it will sell Microsoft its stash of 666,624 IPv4 addresses, a commodity now in high demand as network operators around the world begin to run short.

Peter Sayer covers open source software, European intellectual property legislation and general technology breaking news for IDG News Service. Send comments and news tips to Peter at peter_sayer@idg.com.

Join the newsletter!

Or

Sign up to gain exclusive access to email subscriptions, event invitations, competitions, giveaways, and much more.

Membership is free, and your security and privacy remain protected. View our privacy policy before signing up.

Error: Please check your email address.
Rocket to Success - Your 10 Tips for Smarter ERP System Selection

Tags business issueslegaltelecommunicationinvestmentsintellectual propertypatentrestructuringNortel Networks

Keep up with the latest tech news, reviews and previews by subscribing to the Good Gear Guide newsletter.

Peter Sayer

IDG News Service
Show Comments

Brand Post

Bitdefender 2018

With determination and drive, you achieve outstanding performance! Get Bitdefender Total Security 2018 Now!

Most Popular Reviews

Latest Articles

Resources

PCW Evaluation Team

Andrew Teoh

Brother MFC-L9570CDW Multifunction Printer

Touch screen visibility and operation was great and easy to navigate. Each menu and sub-menu was in an understandable order and category

Louise Coady

Brother MFC-L9570CDW Multifunction Printer

The printer was convenient, produced clear and vibrant images and was very easy to use

Edwina Hargreaves

WD My Cloud Home

I would recommend this device for families and small businesses who want one safe place to store all their important digital content and a way to easily share it with friends, family, business partners, or customers.

Walid Mikhael

Brother QL-820NWB Professional Label Printer

It’s easy to set up, it’s compact and quiet when printing and to top if off, the print quality is excellent. This is hands down the best printer I’ve used for printing labels.

Ben Ramsden

Sharp PN-40TC1 Huddle Board

Brainstorming, innovation, problem solving, and negotiation have all become much more productive and valuable if people can easily collaborate in real time with minimal friction.

Sarah Ieroianni

Brother QL-820NWB Professional Label Printer

The print quality also does not disappoint, it’s clear, bold, doesn’t smudge and the text is perfectly sized.

Featured Content

Product Launch Showcase

Latest Jobs

Don’t have an account? Sign up here

Don't have an account? Sign up now

Forgot password?