Kodak sells imaging patents for $525 mn
20 Dec 2012
Global technology giants Apple Inc, Google Inc, Microsoft Corp, Research In Motion Ltd and others have grouped together to buy digital imaging patents from bankrupt US photographic icon Eastman Kodak Co for about $525 million, a price much lower than the $2.6 billion estimated for the patents earlier.
''Eastman Kodak Company has completed a series of agreements that successfully monetises its digital imaging patents, Kodak said in a statement.
Under the terms, 12 licencees led by patent holding company Intellectual Ventures LLC and patent risk management solutions provider RPX Corporation will acquire Kodak's patent portfolio for approximately $525 million.
One portion of the consideration will be paid by the 12 companies and the other will be paid by Intellectual Ventures.
Each licencee will get the rights with respect to digital imaging patent portfolio and certain other Kodak patents.
Others in the group of buyers include Facebook Inc, Amazon.com Inc, Samsung Electronics Co, Adobe Systems Inc, Fujifilm Holdings Corp, Huawei Technologies Co, HTC Corp and Shutterfly Inc.