Toronto-based Nortel Networks is planning to sell its remaining patents and patent applications for $900 million in cash. The company’s principal operating subsidiary and other units have signed a stalking horse sale deal with Google. The deal includes nearly 6,000 patents and patent applications spanning wireless, wireless 4G, data networking, optical, voice, internet, service provider, semiconductors and other patent portfolios. Google will be paid a $25 million breakup fee if another company wins a proposed auction for bankrupt Nortel’s patent portfolio, adds Bloomberg.
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