TMCnet News
Ericsson part of winning bid for Nortel's patent portfolio(Thomson Reuters ONE (English) Via Acquire Media NewsEdge) · Ericsson's contribution to transaction USD 340 million · Expected to close in the third quarter of 2011 As announced separately by Nortel Networks Corporation, a consortium of certain technology companies, of which Ericsson (NASDAQ:ERIC) is a part, emerged as the winning bidder for all of Nortel's remaining patents and patent applications for a cash purchase price of USD 4.5 billion. The transaction is subject to approval by the United States and Canadian Bankruptcy Courts. The Nortel patent portfolio comprises approximately 6,000 patents and patent applications from information and communication technologies (ICT) industry, including telecommunications, internet search and social networking. It covers mobile, LTE and data networking as well as optical, internet, service provider, semiconductors and other patent portfolios. Kasim Alfalahi, Chief Intellectual Property Officer at Ericsson, says: "The Nortel patent portfolio reflects the heritage of more than 100 years of its R&D activities and includes some essential patents in telecommunications and other industries. We believe the consortium is in the best position to utilize the patents in a manner that will be favorable to the industry long term." SEB Enskilda is acting as financial advisor to Ericsson in the transaction. Notes to editors: Read more atwww.nortel.com/ Our multimedia content is available at the broadcast room:www.ericsson.com/broadcast_room Ericsson is the world's leading provider of technology and services to telecom operators. Ericsson is the leader in 2G, 3G and 4G mobile technologies, and provides support for networks with over 2 billion subscribers and has the leading position in managed services. The company's portfolio comprises mobile and fixed network infrastructure, telecom services, software, broadband and multimedia solutions for operators, enterprises and the media industry. The Sony Ericsson and ST-Ericsson joint ventures provide consumers with feature-rich personal mobile devices. Ericsson is advancing its vision of being the "prime driver in an all- communicating world" through innovation, technology, and sustainable business solutions. Working in 180 countries, more than 90,000 employees generated revenue of SEK 203.3 billion (USD 28.2 billion) in 2010. Founded in 1876 with the headquarters in Stockholm, Sweden, Ericsson is listed on NASDAQ OMX, Stockholm and NASDAQ New York. www.ericsson.com www.twitter.com/ericssonpress www.facebook.com/technologyforgood www.youtube.com/ericssonpress FOR FURTHER INFORMATION, PLEASE CONTACT Ericsson Corporate Public & Media Relations Phone: +46 10 719 69 92 E-mail:[email protected] Ericsson Investor Relations Phone: +46 10 719 00 00 E-mail:[email protected] Ericsson part of winning bid for Nortel’s patent portfolio (pdf): http://hugin.info/1061/R/1527616/463385.pdf This announcement is distributed by Thomson Reuters on behalf of Thomson Reuters clients. The owner of this announcement warrants that: (i) the releases contained herein are protected by copyright and other applicable laws; and (ii) they are solely responsible for the content, accuracy and originality of the information contained therein. Source: Ericsson via Thomson Reuters ONE [HUG#1527616] |