iLounge

Nortel Networks has announced that it has ended its multi-day auction of all the company’s remaining patents and patent applications, with a multi-company consortium placing the winning bid of $4.5 billion. The consortium includes Apple, EMC, Ericsson, Microsoft, Research In Motion, and Sony. According to the press release, 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 sale will be subject to applicable Canadian and U.S. approvals to be sought at a joint hearing on July 11; the involved companies will work to close the sale in the third quarter of 2011.

“Following a very robust auction, we are pleased at the outcome of the auction of this extensive patent portfolio”, said George Riedel, Chief Strategy Officer and President of Business Units, Nortel. “The size and dollar value for this transaction is unprecedented, as was the significant interest in the portfolio among major companies around the world.”