A group – which includes Apple (News - Alert) and Research In Motion (RIM) – has gotten the legal approval to go ahead with a $4.5 billion purchase of patents from Nortel.

Though now bankrupt, Nortel (News - Alert) Networks had thousands of patents which have been sought after by many companies – and were put out to bid during an auction, according to The Associated Press. The patents relate to wireless, wireless 4G, optical, data networking, Internet, voice, service provider, semiconductors and other technology, according to the company.

Nortel was offering approximately 6,000 patents or patent applications.

Nortel said in a statement that the patent portfolio “touches nearly every aspect of telecommunications and additional markets ... including Internet search and social networking.”

The bid was approved by U.S. and Canadian judges on Monday, according to The AP.

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

The successful consortium includes Apple, EMC Corp., LM Ericsson AB, Microsoft, RIM, and Sony, according to a company statement.

In addition, Google (News - Alert) had offered a bid of $900 million. Its Android operating system phones compete with Apple’s iPhone and RIM’s BlackBerry, TMCnet  said.

Nortel filed for bankruptcy protection in 2009, and continues to sell off many of its assets. The patents are among the most valuable assets belonging to the company. Nortel has raised about $7.7 billion from the asset sales, including the patents.

Attorney Derrick Tay, who represents Nortel in Canada, told The AP the results show what can be achieved during a bankruptcy case.

“I don't believe a dollar was left on the table,” Tay told Ontario Superior Court of Justice Judge Geoffrey Morawetz, The AP said.

Morawetz held a combined hearing with U.S. Bankruptcy Judge Kevin Gross in Delaware through a videoconference, The AP adds.

Similarly, Gross described the results of the auction as “quite extraordinary,” The AP said.

The sale is expected to close during the third fiscal quarter of 2011, the company said.

Prior to this bid, Ericsson (News - Alert) bought many other Nortel assets, such as its wireless network business in 2009 for $1.13 billion, TMCnet said.

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