Nortel Networks has auctioned off its remaining patents and patent applications to a consortium of key technology companies for a cash purchase price of US$4.5 billion.



From PCWorld:

Nortel said in a statement late Thursday that a consortium consisting of Apple, EMC, Ericsson, Microsoft, Research In Motion and Sony had emerged as the winning bidder in the multi-day auction. It did not give information on the other bidders.

"We believe the consortium is in the best position to utilize the patents in a manner that will be favorable to the industry long term", Ericsson said. The company said it would contribute $340 million to the transaction which is expected to close in the third quarter. RIM said its portion of the purchase consideration was about $770 million.

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