Wednesday, October 26, 2011

Apple Reports Nortel Patent Purchase in 10-K

Apple filed its 10-K today and reported its role in the acquisition of the Nortel patent portfolio:

During 2011, the Company, as part of a consortium, acquired Nortel Networks Corporation’s patent portfolio for an overall purchase price of $4.5 billion, of which the Company’s contribution was approximately $2.6 billion. The majority of the acquisition price has been recorded in acquired intangible assets, which the Company expects to amortize over seven years. The Department of Justice is reviewing this transaction.