BackApple, Intel among bidders for Nortel Networks: Report
Apple, Intel among bidders for Nortel Networks: Report
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New York: Apple Inc, Intel Corp and Ericsson AB are among the technology giants that will vie with Google Inc to buy patents from bankrupt telecom-equipment maker Nortel Networks Corp, says a media report.
“Apple, Intel and Ericsson AB are among the technology giants that will vie with Google to buy a trove of patents from the bankrupt Canadian telecom-equipment maker Nortel Networks Corp," The Wall Street Journal reported, citing a source.
The report said that RPX Corp, a US-based firm that defensively buys up patents on behalf of other companies, was also accepted as a qualified bidder.
Nortel said last week it was delaying the sale of about 6,000 patents by seven days until 27 June, citing a “significant level of interest" in the portfolio.
The Nortel patents cover telecommunications technology used in wireless handsets and networks, as well as Internet search, semiconductors and social networking.
In 2009, Nortel filed for bankruptcy after a loss of $5.8 billion, hurt by customers putting off spending on new equipment during the recession.
According to the publication, representatives for Google, Intel and RPX declined to comment. Apple, Ericsson and the Justice Department did not immediately respond to a request for comment.
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