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Rockstar Consortium Receives Green Light From Department of JusticeConsortium forges ahead with plans to license intellectual property (March 12, 2012)
OTTAWA, ONTARIO -- (Marketwire) -- 03/12/12 -- Rockstar Consortium (Rockstar) today announced that the US Department of Justice waiting period for review of Rockstar's acquisition of a substantial majority of the former Nortel Networks patent portfolio, has expired and the company is free to consummate the acquisition. The portfolio consists of approximately 4,000 patent assets related to a broad array of networking, communications, and internet technologies.
These patent assets were a substantial component in the record-breaking auction this past summer, when Rockstar Consortium, made up of Apple, Microsoft, RIM, Ericsson and Sony, invested $4.5 billion to acquire Nortel's portfolio from the bankruptcy estate. Nortel, a 100+ year-old telecom and networking pioneer, had developed the portfolio through tens of billions of dollars of R&D investment over the past few decades. Following the expiration of the waiting period, Rockstar is set to implement its plans to pursue licensing agreements with companies that are harnessing its intellectual property.
John Veschi, Chief Executive Officer of Rockstar, and formerly Chief IP Officer of Nortel, stated that, "We are pleased to emerge from this review process, and are looking forward to working with technology related companies to provide them with access to Rockstar's technology. The entire industry has benefitted from Nortel's groundbreaking innovations, and we are eager to work with them to establish licenses enabling the continued use of this technology."
Rockstar Consortium US LP, and Rockstar Consortium Inc. (the Rockstar Companies) are jointly owned by Apple, Microsoft, RIM, Ericsson and Sony, and are chartered with managing the Rockstar portfolio on behalf of these owners.
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