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.
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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.