Maker of medium format cameras, digital backs and lenses, Phase One, along with Leaf Photography, which manufactures medium-format digital camera backs, on Thursday announced they have collaborated to create a new company called Leaf Imaging that has purchased assets of the Leaf camera business. This includes the Leaf product name, engineering design and production tools.

At the same time, the new company will pay royalties to Kodak for use of its intellectual property, though exactly what this entails is unknown.

Financial details are also unspecified, but little else will change on the surface, as Leaf digital camera products will remain to be developed in Israel and distributed under the Leaf brand. Phase One, which also creates software that makes the capture and post-production process faster, will contribute its own expertise to the design and manufacture of future Leaf products. [via ImagingInsider]