IDG News Service - Nortel Networks has obtained court approval to accept a $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 consortiums. 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 firstname.lastname@example.org.
- Best iPhone, iPad Business Apps for 2014
- 14 Tech Conventions You Should Attend in 2014
- 10 Desktop Apps to Power Your Windows PC
- How to Add New Job Skills Without Going Back to School
- Slideshow: 7 security mistakes people make with their mobile device
- iOS vs. Android: Which is more secure?
- 11 sure signs you've been hacked
Red Hat Enterprise Linux - The Original Cloud Operating System
Linux adoption is growing against a number of measures, such as the
number of supercomputers that run Linux and the size of the contributing...
- OpenStack Hype vs. Reality: CIO Quick Pulse Open-source architecture can enable IT departments to build infrastructure-as-a-service (IaaS) clouds running on standard hardware.
- Future Focus: What's Coming in Enterprise Mobility Management (EMM) Find out why Enterprise Mobility Management (EMM) solutions that are truly future-ready must be designed to enable Machine-to-Machine (M2M) capabilities and much more.
- The CIO's Guide to Enterprise Mobility Management (EMM) This guide will help those making an EMM platform decision make the best choice for their organization.
- Live Webcast Increasing the Value of Your Reports and Dashboards Learn how incorporating other analytical capabilities such as predictive modeling and visualization can increase the value of your reports and dashboards by providing...
- Testimonial: Cystic Fibrosis Trust Peter Hawkins, the Head of IT for Cystic Fibrosis Trust, discusses the role CommVault's Simpana software platform plays in improving the company's information...
- Increasing the Value of Your Reports and Dashboards Learn how incorporating other analytical capabilities such as predictive modeling and visualization can increase the value of your reports and dashboards by providing... All Management White Papers | Webcasts