“Apple Inc. received approval from U.S. antitrust regulators to bid for the assets of bankrupt Nortel Networks Corp., according to an agency statement,” Sara Forden and Steven Church report for Bloomberg.
“The Antitrust Division of the Justice Department reviewed Apple’s request to bid for a number of Nortel patents, according to a person familiar with the situation who declined to be identified because the process isn’t public,” Forden and Church report. “While Cupertino, California-based Apple has won a green light to participate in the bidding, the Antitrust Division will continue to review any anticompetitive issues that could arise once an agreement is made, the person said.”
Forden and Church report, “Nortel, a Canadian phone-equipment maker that filed for bankruptcy in Wilmington, Delaware, in January 2009, agreed to sell the patents to Google Inc. for $900 million unless a competitor bids more at a June 27 auction. Nortel delayed the auction for a week citing a ‘significant level of interest’ in a June 16 statement.”
The patent portfolio will give the winning bidder rights to control and license technologies including wireless video that may be valuable for future generations of smartphones such as Apple’s iPhone… Software giant Microsoft Corp., computer maker Hewlett- Packard Co. and phone maker Nokia Oyj, are among technology companies that have objected to the sale to Google, saying in court papers the deal doesn’t guarantee them continued access to technologies they currently have a right to use.”
Read more in the full article here.
[Thanks to MacDailyNews Readers “JJ” and “Arline M.” for the heads up.]
Apple, Intel among bidders for Nortel patent trove – June 17, 2011
Nortel delays patent auction one week citing significant interest – June 16, 2011
RIM looks to outbid Apple, Google, and Nokia for Nortel’s patent treasure trove – April 18, 2011
Google bids $900 million for 6,000 Nortel telecom patents in quest to boost patent portfolio – April 4, 2011
Apple reportedly bidding for Nortel patent portfolio – December 13, 2010