Nortel will sell off its packet core network business, in the third fire-sale auction of the bankrupt company's assets.
The company said it will carve off and sell those assets of its carrier networks business associated with the development of packet core network components.
These include software, equipment, non-patent IP and related tangible assets. Nortel will maintain control of the associated patents, but will grant the buyer a non-exclusive license to use the technology.
But in contrast to these auctions, Nortel has yet to receive a stalking horse bid for its packet core network assets, the Ottawa Citizensaid.
The sale is subject to approval by US and Canadian bankruptcy courts. The bid deadline is October 16.
More on Nortel assets sale: