Apple staked $2.6B in buy of Nortel patent portfolio
A detail in Apple's 10-Q filing shows the company staked more than half of the buy-in for Nortel's patent portfolio last month.
While many secrets remain about how Nortel's patent portfolio, which, is going to be controlled by the consortium of companies that pooled together to purchase it, how much Apple put into the deal is now out in the open. And the figure is a whopper.
Culling through the company's 10-Q (PDF), which was filed with the U.S. Securities and Exchange Commission yesterday, Business Insider this morning pulled out the total of Apple's stake, which was listed in a section about contractual obligations.
"On June 27, 2011, the Company, as part of a consortium, participated in the acquisition of Nortel's patent portfolio for an overall purchase price of $4.5 billion, of which the Company's contribution will be approximately $2.6 billion."
Apple noted that the deal still needed to go through approval by regulatory agencies. Judges in the U.S. and Canada approved the sale itself inheld earlier this month.
Late last month, Nortel's patent portfolio was sold to a consortium of technology companies comprising Apple, EMC, Ericsson, Microsoft, Research In Motion, and Sony. The group beat out rivals including Intel and Google with its $4.5 billion bid for the intellectual property, which included patents and patent applications for wireless, wireless 4G, data networking, optical, voice, Internet, and semiconductor technologies. Google was the first bidder,back in April.
Yesterday Bloomberg reported that Apple could be putting some of its huge cash hoard into more intellectual property. Citing anonymous sources, the outlet said Apple, along with Google, was contemplating bids on a portfolio from InterDigital, a company that develops technology for mobile phones.