Printed from http://www.electronista.com

Kodak sells patents to Apple, Google consortiums for $525M

updated 12:03 pm EST, Wed December 19, 2012

Microsoft, Samsung among benefitting parties

Kodak has sold off $525 million in digital imaging patents to two consortiums led by Apple and Google, according to an official announcement. In all 12 licensees are involved, split between the two consortiums, Intellectual Ventures and RPX Corporation. Each licensee will get rights to part of Kodak's patent portfolio, which is highly valued as a means of defending against lawsuits, or in theory launching new complaints against competitors.

Apple and Microsoft are the main backers behind Intellectual Ventures, while RPX's supporters include Google, LG, and HTC. Some of the other licensees in the patent sale include Adobe, Amazon, Facebook, and Samsung.

The transaction is essential for Kodak as it tries to exit Chapter 11 bankruptcy. A $793 million loan package for the company was contingent on getting at least $500 million for its patent portfolio. Kodak initially hoped that the patents would sell for as much as $2.6 billion, but the first bids were far lower, under $250 million.

With today's developments, Kodak says it expects to emerge from bankruptcy in the first half of next year. The resulting company will be radically different from its earlier incarnation, however, concentrating mainly on commercial sales instead of consumer products, as it did for over a century beforehand.



By Electronista Staff
toggle

Comments

Login Here

Not a member of the MacNN forums? Register now for free.

toggle

Network Headlines

toggle

Most Popular

Advertisement

Recent Reviews

Brother HL-L8250CDN Color Laser Printer

When it comes to selecting a printer, it's not exactly something most people put a lot of thought into. Printers are often touted as f ...

Moshi iVisor AG and XT for iPad Air 2

Have you ever tried to put in a screen protector that relies on static to cling to the screen? How many bubbles and wrinkles does it h ...

Epson PowerLite Home Cinema 3500 projector

Trying to find the perfect projector for a home theater can be tricky, as there are bountiful options on the market from a large numbe ...

Advertisement

toggle

Most Commented

 
toggle

Popular News