Google Makes $900 Million Bid for Nortel Assets
Updated: re-wrote two sentences for clarity.
Google today announced that it has made a $900 million "Stalking-Horse" bid for patents held by Nortel. Nortel has already sold a number of its patents and intellectual properties as part of its bankruptcy filing. In 2009, for example, Ericsson won chunks of Nortel's CDMA/GSM/LTE assets. Google said it is making the bid for Nortel's patents for two reasons. It explained in a blog post, "We hope this portfolio will not only create a disincentive for others to sue Google, but also help us, our partners and the open source community — which is integrally involved in projects like Android and Chrome — continue to innovate." Google noted that it wants to build up its own portfolio of patents. ZTE has also expressed interest in Nortel's patent portfolio. The auction has yet to start, but will now use Google's initial $900 million bid as the starting point.