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Kodak patent sale concluded with potential technology giants collaboration

Kodak patent sale concluded with potential technology giants collaboration

December 19, 2012

Apple and Google believed to have partnered to offer more than $500 million to buy Kodak’s patent portfolio, aiding the OEM out of bankruptcy.

Apple and Google are believed to have collaborated to offer over $500 million (€377 million) to purchase Eastman Kodak’s patent portfolio, aiding the OEM in its bid to exit bankruptcy, reports Live Mint and the Wall Street Journal.

Sourced from “people familiar with the situation” who requested not to be identified as the process is considered private, Apple and Google are said to be leading two separate groups to purchase 1,100 patents offered by the OEM.

Partnerships of this nature are said to be commonplace in patent sales, enabling competitors to “neutralise potential infringement litigation”, and highlighted a former arrangement between Apple, Microsoft and Research in Motion’s collaboration in purchasing 6,000 Nortel Networks Corp’s patent for $4.5 billion (€3.4 billion). Google lost the auction following a bid of $900 million (€680 million).

However Niki Fenwich, a spokesperson for Google, stated that the company does not comment on speculation; Kodak’s Christopher Veronda declined to comment on the sale and Apple spokesperson Kristin Huguet also declined to comment.

The sale was a requirement in receiving its new $830 million (€642 million) finance facility offered in November, and will enable Kodak to exit the financing of $830 million (€627 million) in loans.

Categories : Products and Technology

Tags : Business IP Kodak

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