Apple-led consortium peels off Nortel patents


By James Bagnall – One hundred and sixteen years after its founding, Nortel Networks has reached a deal to sell all its remaining patents for a remarkable $4.5 billion to a consortium of six high-tech giants – Apple, EMC, Ericsson, Microsoft, Research In Motion and Sony.

The price easily trumped an opening bid of $900 million by Google for all 6,000-plus Nortel patents, and emerged after four days of bidding at the New York offices of Nortel’s lawyers.

Nortel was the biggest telecommunication company in the world in 2000, with sales of more than $30 billion. more> http://is.gd/I5WYRJ

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