Intel gets FTC approval to acquire Nortel patent portfolio
updated 12:10 pm EDT, Fri June 24, 2011
Apple, Google and Ericsson also potential suitors
Intel has reportedly received blessings from the Federal Trade Commission to acquire Nortel's patent portfolio, though the chip maker must outbid several competitors to secure the bankrupt company's intellectual property. The latest report corroborates earlier rumors, which pointed to a possible bidding war between Google, Intel, Apple, Ericsson, and RPX, a company that buys patents defensively to protect clients against patent trolls.
Google has reportedly been approved for participation in the sale, allegedly preparing for a baseline bid valued at $900 million. Other potential bidders, such as Microsoft and Apple, are said to be eyeing the portfolio as a potential weapon to battle Android in the smartphone arena.
Nortel has already liquidated the majority of its physical assets, however the company must part with approximately 6000 parents and patent applications. The filings span a wide range of subjects, with a focus on wireless, semiconductors, Internet, and other related technologies.
The Nortel patents are set to auctioned beginning early next week. [via Reuters]
