[August 01, 2011] Consortium of technology companies acquires patents portfolio of Nortel Networks Tweet Aug 01, 2011 (Datamonitor Financial Deals Tracker via COMTEX) -- Nortel Networks Corporation, its subsidiary Nortel Networks Limited (NNL), and certain of its other subsidiaries, including Nortel Networks, Inc. and Nortel Networks UK Limited, have completed the sale of all of Nortel's remaining patents and patent applications to the consortium consisting of Apple, Inc., EMC Corporation, Telefonaktiebolaget LM Ericsson, Microsoft Corporation, Research In Motion Limited and Sony Corporation for purchase price of $4,500 million. Based in Canada, Nortel supplies networking products and solutions for telecommunications providers, cable operators, enterprise communications and other related service providers. Update on July 12, 2011: Nortel Networks Corporation, NNL, and certain of its other subsidiaries, including Nortel Networks, Inc. and Nortel Networks UK Limited, have received an approvals from the US and Canadian courts to sell all of Nortel's remaining patents and patent applications. Announcement (June 30, 2011): Nortel Networks Corporation, NNL and certain of its other subsidiaries, including Nortel Networks, Inc. and Nortel Networks UK Limited, have concluded a successful auction of all of Nortel's remaining patents and patent applications. The consortium consisting of Apple, EMC, Ericsson, Microsoft, Research In Motion and Sony emerged as the winning bidder with a cash purchase price of $4,500 million. The sale includes more than 6,000 patents and patent applications spanning wireless, wireless 4G, data networking, optical, voice, internet, service provider, semiconductors and other patents. The patent portfolio touches nearly every aspect of telecommunications and additional markets as well, including Internet search and social networking. The transaction is expected to close in the third quarter of 2011. Rumor (June 18, 2011): According to Reuters, The Wall Street Journal reported that Ericsson is considering a bid to acquire a portfolio of wireless technology patents from Nortel Networks. The patents include intelligence on wireless Internet technology and social networking. Nortel, which filed for bankruptcy in January 2009, has already sold most of its physical assets. Nortel was delaying the sale of about 6,000 patents and patent applications until June 27, 2011 after it said previously it will hold the sale on June 20, 2011. Reportedly, Apple, Inc., Google, Inc. and Intel Corporation are also in the race to bid for Nortel patents. SEB Enskilda is acting as financial advisor to Ericsson and Skadden, Arps, Slate, Meagher & Flom LLP is acting as legal advisor to EMC Corporation. Deal Value (US$ Million) 4500 Deal Type Acquisition Sub-Category Asset Purchase Deal Status Completed: 2011-07-29 Deal Participants Target (Company) Nortel Networks Corporation - Patents Portfolio Acquirer 1 (Company) Sony Corporation Acquirer 2 (Company) Microsoft Corporation Acquirer 3 (Company) EMC Corporation Acquirer 4 (Company) Apple, Inc. Acquirer 5 (Company) Research In Motion Limited Acquirer 6 (Company) Telefonaktiebolaget LM Ericsson Vendor (Company) Nortel Networks Corporation [ Back To TMCnet.com's Homepage ]