STOCKHOLM, SWEDEN--(Marketwire - Jul 1, 2011) -
· Ericsson's contribution to transaction USD 340 million
· Expected to close in the third quarter of 2011
As announced separately by Nortel Networks Corporation, a consortium of
technology companies, of which Ericsson (NASDAQ: ERIC) is a part, emerged as
winning bidder for all of Nortel's remaining patents and patent
a cash purchase price of USD 4.5 billion. The transaction is subject to
by the United States and Canadian Bankruptcy Courts.
The Nortel patent portfolio comprises approximately 6,000 patents and
applications from information and communication technologies (ICT)
including telecommunications, internet search and social networking. It
mobile, LTE and data networking as well as optical, internet, service
semiconductors and other patent portfolios.
Kasim Alfalahi, Chief Intellectual Property Officer at Ericsson, says: "The
Nortel patent portfolio reflects the heritage of more than 100 years of its
activities and includes some essential patents in telecommunications and
industries. We believe the consortium is in the best position to utilize
patents in a manner that will be favorable to the industry long term."
SEB Enskilda is acting as financial advisor to Ericsson in the transaction.
Notes to editors:
Read more at www.nortel.com/
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Ericsson is the world's leading provider of technology and services to
operators. Ericsson is the leader in 2G, 3G and 4G mobile technologies, and
provides support for networks with over 2 billion subscribers and has the
leading position in managed services. The company's portfolio comprises
and fixed network infrastructure, telecom services, software, broadband and
multimedia solutions for operators, enterprises and the media industry. The
Ericsson and ST-Ericsson joint ventures provide consumers with feature-rich
personal mobile devices.
Ericsson is advancing its vision of being the "prime driver in an all-
communicating world" through innovation, technology, and sustainable
solutions. Working in 180 countries, more than 90,000 employees generated
revenue of SEK 203.3 billion (USD 28.2 billion) in 2010. Founded in 1876
the headquarters in Stockholm, Sweden, Ericsson is listed on NASDAQ OMX,
Stockholm and NASDAQ New York.
Ericsson part of winning bid for Nortel's patent portfolio (pdf):
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Source: Ericsson via Thomson Reuters ONE