Local Tech Wire
RESEARCH TRIANGLE PARK, N.C. – continuing liquidation produced a profit for its most recent quarter, the company reported late Friday.
Even as it reported that news, other stories circulated that Nortel is also in the process of selling off one of its few remaining assets – its patent portfolio.
Dow Jones reported that Nortel, which declared bankruptcy a year ago, is “soliciting bids” for the patents. The process is also quite secretive, going beyond standard non-disclosure agreements.
"Even the fact that…you signed (the NDA) is confidential," a person “familiar with the matter” told the news service.
Network World, meanwhile, reported that ways to maximize the patent portfolio’s benefits continue.
“A spokeswoman for Nortel wouldn’t comment on the story, but says the company has announced its intent to maximize the value of the patents as part of the bankrupt company’s attempt to pay back its creditors as much as possible of what it owes them,” Network World said.
Patents related to some products have already been acquired by the buyers of other Nortel assets, Network World noted.
On the earnings front, Nortel reported a $355 million profit based in large part on the $549 million sale of its optical networks and carrier Ethernet assets to Ciena and a $93 million sale of wireless assets to Ericsson and Kapsch.
For the earnings report,
Nortel was once one of the largest high-tech employers in RTP.
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