Consortium Wins Nortel Patent Portfolio Auction

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A consortium of companies made out of big guns like Apple, EMC, Ericsson, Microsoft, Research In Motion and Sony have won the auction for Nortel’s patent portfolio, after a multi-day auction.

The portfolio consists of more than 6,000 patents and patent applications spanning wireless, wireless 4G, data networking, optical, voice, internet, service provider, semiconductors and other patents. The winning bid placed by the consortium will grant Nortel US$4.5 billion in cash for its patents but the transaction is yet to be approved by Canadian and U.S. Courts at a joint hearing on July 11, 2011.

Source: MarketWatch

Via: Engadget

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