Google Reveals Lot Bid in Nortel Patent Auction

Things are picking up for Nortel creditors. After auctioning off their tangible assets and CDMA patents for over $3B, Nortel planned to auction off more than 4,000 remaining patents, and the estimated sale was estimated to take in around $1B. As we reported in January, the first rounds of the auction moved rather slowly.

Now, apparently tired of the amount time (and money) they are spending defending infringement suits, Google has launched an opening salvo of $900M for the lot. Analysts currently feel the final amount will exceed the earlier estimates.