Kodak Sells $525 Million in Patents, Apple/Google to Benefit
December 19, 2012 1:28 PM
comment(s) - last by
Under the new agreement, Kodak will get $525 million from both Intellectual Ventures and RPX Corporation
Kodak has finally sold off just over $500 million in patents in an effort to jumpstart its
Under the new agreement, Kodak will get $525 million from both Intellectual Ventures and RPX Corporation. A portion of the total will be paid by 12 intellectual property licensees, where each receives rights to the digital imaging patent portfolio, and the other portion will be paid by Intellectual Ventures, which will acquire the digital imaging patent portfolio according to the new and existing licenses.
“This monetization of patents is another major milestone toward successful emergence,” said Antonio M. Perez, Kodak Chairman and Chief Executive Officer. “Our progress has accelerated over the past several weeks as we prepare to emerge as a strong, sustainable company. This proposed transaction enables Kodak to repay a substantial amount of our initial DIP loan, satisfy a key condition for our new financing facility, and position our Commercial Imaging business for further growth and success.”
and Google are benefitting from the Kodak patent purchase as well. It reported that Intellectual Ventures is an agent for Apple and RPX Corporation is an agent for Google. Both Apple and Google are fierce rivals in the mobile software arena, where Apple's iOS operating system and Google's Android operating system are in constant competition.
Shortly after Kodak filed for bankruptcy earlier this year, Apple sued the company for patent infringement regarding a digital camera Apple said it created along with Kodak in the 1990s. A judge told Apple to
and quit kicking the dog while it's down.
Back in January of this year, the 131-year-old Kodak
filed for Chapter 11 bankruptcy protection
in the federal bankruptcy court in the Southern District of New York. The filing, which only included Kodak's U.S. subsidiaries, listed assets of $5.1 billion and debts of $6.75 billion.
Kodak had said back in November 2011 that it would be
unable to pay its bills
at some point in 2012 unless it stumbled into some quick cash.
The company expects to complete its restructuring in 2013. The bankruptcy filing will not affect non-U.S. subsidiaries.
This article is over a month old, voting and posting comments is disabled
RE: The worst thing that could happen...
12/20/2012 9:46:37 AM
The only two operating systems that matter in mobile are Android and iOS
Yep, and now we've got Google and Apple working together to make sure it stays that way.
Please, go ahead and bring that back around to how Apple is the bestest.
"We’re Apple. We don’t wear suits. We don’t even own suits." -- Apple CEO Steve Jobs
Judge to Apple: Leave Kodak Alone
March 9, 2012, 9:55 AM
Apple Sues Kodak in Manhattan District Court, Takes Advantage of Film Giant's Poor Position
February 15, 2012, 12:30 PM
Eastman Kodak Files for Chapter 11 Bankruptcy Protection
January 19, 2012, 9:40 AM
Smart Security Cameras: 5 Good Choices For Any Budget
July 25, 2016, 7:13 PM
Top 5 Smart Watches
July 21, 2016, 11:48 PM
Retiree Sues Apple For $7,500 for Wiping Honeymoon Photos From His iPhone
November 30, 2015, 10:23 AM
iPhone 7 May Pack 3-4 GB Memory, More Storage; 4-Inch Comeback is Rumored
November 20, 2015, 10:12 PM
OnePlus One, OnePlus 2 Will Receive Android Marshmallow in Q1 2016
November 16, 2015, 9:58 AM
Lenovo Whoa: Motorola Droid MAXX 2 and Turbo 2 Break Cover in Leaks
October 26, 2015, 3:12 PM
Most Popular Articles
iPhones May Get Curved Screens Next Year
August 24, 2016, 6:45 AM
Drones at the Airport
August 26, 2016, 5:00 AM
First Apple Computer Auctions for $815,000
August 27, 2016, 7:51 AM
5 Easy Ways to Lower Blood Pressure By Monique C. Bethell, Ph.D.
August 25, 2016, 8:00 AM
2 NEW PlayStation 4 Models - Unveiling September 7th
August 23, 2016, 6:23 AM
Latest Blog Posts
First Self-Driving Car debut on the streets of Singapore
Aug 28, 2016, 4:10 PM
Coming Soon - Drones and Airports
Aug 24, 2016, 12:40 PM
SolarCity’s Gigafactory: A Milesone in Emerging Technology by Lily Emamian - 15 August 2016
Aug 15, 2016, 6:30 AM
Sceptre Airs 27", 120 Hz. 1080p Monitor/HDTV w/ 5 ms Response Time for $220
Dec 3, 2014, 10:32 PM
Costco Gives Employees Thanksgiving Off; Wal-Mart Leads "Black Thursday" Charge
Oct 29, 2014, 9:57 PM
More Blog Posts
Copyright 2016 DailyTech LLC. -
Terms, Conditions & Privacy Information