"Eastman Kodak Co agreed to sell its digital imaging patents for about $525 million, a key step to bringing the photography pioneer out of bankruptcy in the first half of 2013. The deal for the 1,100 patents allows Kodak to fulfill a condition for securing $830 million in financing. The patent deal was reached with a consortium led by Intellectual Ventures and RPX Corp, and which includes some of the world's biggest technology companies, which will license or acquire the patents."
"Those companies are Adobe Systems Inc, Amazon.com Inc, Apple Inc, Facebook Inc, Fujifilm, Google Inc, Huawei Technologies Co Ltd, HTC Corp, Microsoft Corp, Research In Motion Ltd, Samsung Electronics Co Ltd and Shutterfly Inc, according to court documents. Kodak still must sell its personalized and document-imaging businesses as part of the financing package, and also has to resolve its UK pension obligation."
Eastman Kodak Co agreed to sell about 1,100 digital imaging patents for approximately $525 million to a consortium led by Intellectual Ventures and RPX Corp. The consortium includes Adobe, Amazon, Apple, Facebook, Fujifilm, Google, Huawei, HTC, Microsoft, Research In Motion, Samsung and Shutterfly. The sale enables Kodak to meet a condition for securing $830 million in financing and positions the company to emerge from Chapter 11 in the first half of 2013. Kodak must still sell its personalized and document-imaging businesses and resolve a UK pension obligation. An outside firm had estimated the patents could be worth as much as $2.6 billion, and the auction was prolonged amid elevated intellectual property valuations and patent-related litigation activity.
Read at Gadgets 360
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