July 5th, 2011 By: THN News
(The Hosting News) – Nortel recently announced the results of the public auction on its remaining patents related to wireless and digital communication. The winner was an alliance of companies that included Microsft, Sony, and Apple.
The final bid totaled out at $4.5 billion.
In a press release by the company, George Riedel of Nortel stated, “Following a very robust auction, we are pleased at the outcome of the auction of this extensive patent portfolio.”
It was reported by various media outlets in April that Google would come out as the likely winner. Analysts speculated that Google would acquire the patents as a way to combat competition in the realm of wireless communication. Google had initially offered $900 million for the patents at the time.
Google is currently in a high profile patent battle with Oracle. Meanwhile, Google might look at other ways to obtain more patents.
Nortel filed bankruptcy protection in early 2009. The company is based in Canada.
Article Source http://www.thehostingnews.com/google-loses-out-on-nortel-patents-19010.html permits to republish here.
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