Nortel is to auction the rights to software that supports the
transfer of data over existing wireless carrier networks and the
next generation of wireless communications technology as part of
its restructuring in the wake of bankruptcy.
The company, once Canada's richest, is selling the next
generation packet core network components of its carrier networks
business This includes non-patent intellectual property, equipment
and other related tangible assets. Nortel also expected to grant
the purchaser a non-exclusive licence to relevant patents.
The firm filed court motions to let the sale go ahead. Any money
realised is expected to go to pay creditors.
US and Canada courts earlier approved the sale of Nortel's
enterprise business to Avaya for about $900m. This followed the
$1.13bn sale of Nortel's wireless assets to Sweden's Ericsson.
