STOCKHOLM (AP) -- Swedish wireless network maker LM Ericsson AB says it is part of a consortium that has won the bidding process for patents auctioned off by bankrupt Canadian telecom group Nortel Networks Corp.
Nortel's patent portfolio consists of around 6,000 patents and patent applications, and includes telecommunications, internet search and social networking.
Stockholm-headquartered Ericsson says it is contributing with $340 million for the $4.5 billion cash payment the consortium is paying. It did not name the other technology companies taking part Friday.
Ontario-based Nortel has been selling its operations piece by piece since it filed for bankruptcy protection in Canada and the U.S. in January 2009.
