Apple and Google are among the potential bidders for Nortel's patent portfolio, according to unnamed sources cited in a Wall Street Journal report.
The portfolio contains 4,000 patents, including a group of patents related to LTE networks, the Journal said. Nortel is expected to select a bidder on the patent portfolio within three weeks. Preliminary stalking horse bids are expected to come in around $1 billion.
Apple, Google, Huawei, ZTE and a group of companies including hedge fund Fortress Investment Group and patent licensing firms Intellectual Ventures and InterDigital are among the companies reportedly interested in acquiring Nortel's intellectual property.
The companies could profit off the patents by using them in their own network technologies, or leasing them out to third parties. The patents could also serve as a bulwark against potential lawsuits.