Google Offers $900 Million to Buy Nortel Networks Patents

Google Inc. (GOOG) offered $900 million for the rights to about 6,000 Nortel Networks Corp. patents as the world’s biggest Internet-search company seeks to stave off lawsuits by bolstering its portfolio of intellectual property. Nortel, the Canadian telephone-equipment maker that filed for bankruptcy protection in Jan. 2009, selected Google for a “stalking horse” agreement, a starting point against which others bid prior to the auction, Nortel said in a statement today. – Bloomberg

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