Nortel selling LTE packet core assets to Hitachi

Bankrupt Nortel Networks is selling some assets related to its LTE packet core network technology to Hitachi for $10 million. Nortel said it would give up software to support data transfers, as well as relevant non-patent intellectual property, equipment and other "related tangible assets." The deal also includes a non-exclusive license to relevant patents and other intellectual property. Not included in the deal are legacy packet core components for Nortel's GSM and UMTS businesses. The deal must be approved by a U.S. Bankruptcy Court in Delaware and the Ontario Superior Court of Justice, and is expected to close this year. Article [1]