Herbert Smith advises as high-profile IT group wins bid for Nortel patents
Herbert Smith has taken a lead European role as a consortium including Apple, Microsoft and Sony Ericsson won a contest against Google to buy 6,000 strategic Nortel Networks patents for $4.5bn (£2.8bn). Herbert Smith advised Ernst & Young, the administrator to Nortel's entities in Europe, the Middle East and Africa, on the competitive auction.
July 13, 2011 at 07:03 PM
2 minute read
Herbert Smith has taken a lead European role as a consortium including Apple, Microsoft and Sony Ericsson won a contest against Google to buy 6,000 strategic Nortel Networks patents for $4.5bn (£2.8bn).
Herbert Smith advised Ernst & Young, the administrator to Nortel's entities in Europe, the Middle East and Africa, on the competitive auction.
City corporate partner Alex Kay led the team advising Nortel, after the firm was enlisted more than two years ago on Nortel's administration.
Cleary Gottlieb Steen & Hamilton took the lead for the US arm of Nortel under New York bankruptcy partner Lisa Schweitzer and corporate M&A partner Paul Shim. Norton Rose's newly-merged Canadian arm Norton Rose OR advised Nortel's Canadian companies alongside Goodmans.
The deal saw a consortium including Apple and the Rockstar group (RIM, Microsoft, Sony Ericsson and EMC) secure the patents over bidders including Google and Intel.
Apple instructed Weil Gotshal & Manges while the Rockstar group turned to Paul Weiss Rifkind Wharton & Garrison. Google relied on advice from Wachtell Lipton Rosen & Katz and Bingham McCutchen, while Wilmer Hale acted for Intel.
Commenting on the auction, Kay said: "The patent portfolio is unique and attracted huge industry interest as was shown by how the auction played out, with the large number of bidders and the high level of pricing of the winning bid."
Herbert Smith has previously advised the administrators on Nortel's pan-European filing for administration in the UK, its global restructuring and the sales of key business divisions and patent portfolios.
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