“Apple Inc, Microsoft Corp, Research in Motion Ltd and three other leading tech companies received court approval on Monday to buy wireless patents from the bankrupt Nortel Networks Corp for $4.5 billion,” Tom Hals reports for Reuters.
Judges in the United States and Canada approved the sale of 6,000 patents and applications, which fetched three times what some analysts expected from the four-day auction in June,” Hals reports. “The group of six that won the auction, a collection that bid as Rockstar Bidco LP, also included EMC Corp, Ericsson and Sony Corp.”
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Hais reports, “The sale spans wireless, data networking, optical, voice, Internet and semiconductor technologies. The most prized relate to emerging 4G standards such as long-term evolution (LTE)… The transaction is expected to close in about a month, according to Lisa Schweitzer of Cleary Gottlieb Steen & Hamilton LLP, which represents Nortel.”
Read more in the full article here.
MacDailyNews Take: Done deal. Sometimes justice actually moves quickly and decisively. This spares us much “antitrust authorities are reviewing the deal” FUD. Now, go cower in your hole, mole.