Bloomberg cites two sources that say the Canadian device maker may beat Google (Nasdaq: GOOG)'s US$900 million bid for the 6,000 patents, which cover wireless and data networking technology. Nortel selected the Google bid as the stalking horse offer for the portfolio with an auction expected to follow in June.
Why this matters RIM has always coveted the wireless-related patents in Nortel's portfolio. In 2009, RIM's co-CEO Mike Lazaridis described the Long Term Evolution (LTE) patents as "nothing short of a national treasure that Canada must not lose." RIM had said that it was ready to bid $1.1 billion for the LTE patents and Nortel's wireless unit after the vendor decided to separate the two assets. For more
Nortel's patent portfolio is the last "jewel" the vendor has to offer.
- Google Bids $900M for Nortel's Patents
- Rumor: Nortel Seeks Bids for Its Patents
- Who's Really Sitting on an LTE Goldmine?
- RIM CEO Calls Nortel LTE Patents a 'National Treasure'
- Nortel's LTE Patent Goldmine
- The LTE Scraps From Nortel's Table
- Nortel: What's Left on the Shelf?
- Nortel Could Sell LTE Patents Separately
- Nortel Hangs On to Its LTE Smarts
- Nortel Preserves Patent Plan
- Nortel Wireless Winner: It's Ericsson!
— Dan Jones, Site Editor, Light Reading Mobile