October 27, 2009 | The breakup of Nortel Networks continues.
October 27, 2009 | The breakup of Nortel Networks continues. The bankrupt company agreed to sell some assets related to the development of its LTE packet core network technology to Hitachi for $10 million.
Specifically, Nortel said it would give up software to support data transfers, as well as relevant non-patent intellectual property, equipment and other “related tangible assets,” according to the company. The deal also includes a non-exclusive license to relevant patents and other intellectual property. Not included in the deal are legacy packet core components for Nortel’s GSM and UMTS businesses. The deal must be approved by a U.S. Bankruptcy Court in Delaware and the Ontario Superior Court of Justice, and is expected to close this year.
