RIM (RIMM) Contributes $770M in Winning Multi Billion Nortel Patent Portfolio Bid
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Research In Motion Limited (Nasdaq: RIMM), affirms that it was part of a group of winning bidders for Nortel Networks assets.
The patents and patent applications for a cash purchase price of $4.5 billion. RIM's portion of the purchase consideration is approximately $770 million.
The sale is subject to applicable Canadian and United States court approvals. Nortel plans to work diligently with the consortium to close the sale in the third quarter of 2011.
The patents and patent applications for a cash purchase price of $4.5 billion. RIM's portion of the purchase consideration is approximately $770 million.
The sale is subject to applicable Canadian and United States court approvals. Nortel plans to work diligently with the consortium to close the sale in the third quarter of 2011.
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