Kodak will sell its digital image patents for about $525 million to a group of 12 companies.
- Lisa Ward
- Web contributor- Silicon Valley / San Jose Business Journal
A group of twelve companies and Intellectual Ventures will buy Eastman Kodak Co.'s digital image patents for $525 million.
The group of companies includes Apple Inc., Research In Motion, Google Inc., Samsung Electronics Co. Ltd., Adobe Systems Inc., HTC Corp., Facebook Inc., Fujifilm Corp., Huawei Technologies Co. Ltd., Amazon Fulfillment Services Inc., Shutterfly Inc. and Microsoft Corp., according to TechCrunch.
Bloomberg reports that the deal is for a group of digital image patents that was at one time estimated at a value of $2.6 billion.
Intellectual Ventures will make part of the payment and the rest will come from the group of twelve companies organized by RPX Corp., according to the report. Kodak needed to sell the patents for at least $500 million in order to get permission to exit Ch. 11 bankruptcy in 2013, Bloomberg reported.
Source: http://feedproxy.google.com/~r/bizj_sanjose/~3/ZdfcBbMiTFc/apple-google-adobe-facebook-among.html
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