TORONTO - Nortel Networks Corp. (TSX:NT) announced plans Monday to sell its Carrier Networks business in an auction.
The assets include software to support the transfer of data over existing wireless networks and the next generation of wireless communications technology.
Nortel said it also expects to grant the buyer a non-exclusive license of relevant patent intellectual property in connection with the sale.
The proposed auction follows several others for the company which is slowing selling its parts off under court protection from creditors.
Nortel has already agreed to sell its wireless business to Sweden's LM Ericsson for US$1.13 billion and its enterprise division to Avaya Inc. for $900 million.
