Nortel Auctions Final Patents For US$4.5 Billion...

[Coddfish]

From CTV News:

CTV.ca News Staff

Date: Friday Jul. 1, 2011 9:59 AM ET

Fallen Canadian technology giant Nortel Networks Corp. has sold off all of its remaining patents to a group of major companies for US$4.5 billion.

The consortium consists of Ontario's Research In Motion, Apple, EMC, Ericsson, Microsoft and Sony.

RIM, the Waterloo, Ont.-based Blackberry maker, says its share of the cost was about US$770 million.

There were more than 6,000 patents sold in the multiday auction – a portfolio of tech covering everything from wireless to data networking to Internet search and social networking tools.

The consortium's winning bid is a blow to Google, which bid US$900 million for Nortel's patent rights in April. The Internet search behemoth is increasingly looking for more intellectual rights defences for its rapidly expanding list of products, including its Android mobile operating system.

The sale is still subject to Canadian and U.S. court approval which could happen as early as July 11 at a joint hearing.

More...
Nortel auctions final patents for US$4.5 billion - CTV News

[dazed&confused]

Well at least some of the tech is staying in Cdn hands