April 2011 Archives

Google Bids on Nortel Patents

April 5, 2011 7:56 PM | 0 Comments
Google Inc. has placed a $900 million bid on about 6,000 patents held currently by Nortel Networks Corp. Google was selected to make the first bid on an entire portfolio of patents.

The auction is scheduled to take place in June, so Google’s bid sets the lower limit while other buyers are free to set their offers.

The auction of the patent profile represents the last of Nortel’s assets to be moved, marking the formal end of an era in Canadian technology history. Nortel was the biggest technology company in the country and led the way in terms of telecommunications innovation before its collapse.

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