Nortel Networks is delaying a global auction on its technology patents by one week after seeing a surge of interest from potential bidders for the company's 6,000-some patents and pending patent applications.
The Canadian-based phone equipment maker, which once had a major operation in Research Triangle Park with about 10,000 employees and contractors, has put off the patent auction until June 27.
The patents are the last major asset for Nortel, which has been selling off business divisions since declaring bankruptcy in January 2009. Tech companies that have taken over Nortel units in RTP include Avaya and Genband.
Nortel has raised about $3 billion through asset sales to pay off its creditors, Bloomberg reported. The company has about 160 people left in RTP.
Google, the Internet search engine company, initiated bidding on Nortel patents with a $900 million offer. Bloomberg News reported that Research In Motion, the Canadian maker of the Blackberry smart phone, is also weighing bids.
John Murawski has been a full-time newspaper reporter since 1991, with stints at Legal Times and The Chronicle of Philanthropy (both in Washington, DC), The Philadelphia Inquirer and The Palm Beach Post (in South Florida) before arriving at the N&O in December 2004. At the N&O he covers energy (nuclear, coal, renewable, efficiency), hydralic fracturing (or "fracking"), public utilities (both electric and natural gas) and health care. His beat includes Progress Energy, PSNC Energy, Piedmont Natural Gas, PowerSecure International, GlaxoSmithKline, Merck, Novo Nordisk, Pfizer, Biogen Idec and others. You can reach him at 919-829-8932 or