Nortel Networks Limited has auctioned all Nortel’s remaining patents and patent applications to a consortium of Apple, EMC, Ericsson, Microsoft, Research In Motion and Sony. The consortium’s bid was $4.5 billion (£2.8 billion); RIM has confirmed its portion of the deal is approximately $770 million.
Over 6,000 patents and patent applications were offered, covering a wide range of technology areas including wireless, 4G, data networking, optical, voice, internet, service provider and semiconductors.
George Riedel, Chief Strategy Officer and President of Business Units at Nortel, said “Following a very robust auction, we are pleased at the outcome of the auction of this extensive patent portfolio. The size and dollar value for this transaction is unprecedented, as was the significant interest in the portfolio among major companies around the world.”
Google had previously expressed an interest in the patent portfolio. The deal is subject to legal approval and is expected to be completed this autumn.