Nortel sells patent portfolio to Google for $900M

TORONTO – Nortel Networks has agreed to sell off its remaining patents and patent applications to Google Inc. for a cash purchase price of US$900 million.The ‘stalking horse’ agreement includes the planned sale of approximately 6,000 patents and patent applications spanning wireless, wireless 4G, data networking, optical, voice, Internet, service provider, semiconductors and other patent portfolios including Internet search and social networking.Nortel said Monday that the agreement follows a confidential, multi-round bidding process involving several interested companies and consortia from around the world. "This is an unprecedented opportunity to acquire one of the most extensive and compelling patent portfolios to...