April 16, 2011 9:39am
Earlier this month Google announced they are bidding $900 million for Nortel’s 6,000+ patents. But this “stalking-horse” bid is just the start as reports coming from Bloomberg state that Research In Motion wants to keep the patents in Canadian hands and is considering bidding as well. No word on how much RIM will pony up but according to “two people familiar with the plans” the company is weighing an offer that would top the Google bid.
According to the bidding rules the next offer will have to come in at $929 million and every following bid must be at least $5 million more. RIM co-CEO Mike Lazaridis once called Nortel’s LTE patents a “national treasure” and analysts expect the patents could go for over $1 billion. The 6,000 Nortel patents and patent applications include data networking, voice and Internet service and advanced 4G wireless technologies.