DoJ OK's $4.5B Nortel Patent Sale
These patent assets were a substantial component in the record-breaking auction this past summer, when Rockstar Consortium, made up of Apple, Microsoft, RIM, Ericsson and Sony, invested $4.5 billion to acquire Nortel's portfolio from the bankruptcy estate. Nortel, a 100+ year-old telecom and networking pioneer, had developed the portfolio through tens of billions of dollars of R&D investment over the past few decades. Following the expiration of the waiting period, Rockstar is set to implement its plans to pursue licensing agreements with companies that are harnessing its intellectual property.
John Veschi, Chief Executive Officer of Rockstar, and formerly Chief IP Officer of Nortel, stated that, "We are pleased to emerge from this review process, and are looking forward to working with technology related companies to provide them with access to Rockstar's technology. The entire industry has benefitted from Nortel's groundbreaking innovations, and we are eager to work with them to establish licenses enabling the continued use of this technology."
Nortel Networks Ltd.