RIM Plans Offer For Nortel Patents

Research In Motion is planning an offer for Nortel Networks’ portfolio of wireless technology patents.

Research In Motion (RIM) is planning an offer for Nortel Networks’ portfolio of wireless technology patents, Bloomberg reports. The maker of the BlackBerry smartphone is considering an offer that would rival Google’s $900 million bid. The bidding process requires a second party to offer at least $929 million for the patents and any further offers will need to be $5 million more. Nortel, which has raised about $3 billion for its creditors by selling businesses, filed for bankruptcy in January 2009.

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