News & Announcements

Kodak Sells their Patents for $525 Million

The deed is done. Earlier this week Kodak sold 1,100 of their digital imaging patents giving them the potential to escape bankruptcy. Originally it was Google…

UP
UniquePhoto·Dec 21, 2012·1 min read
Kodak Sells their Patents for $525 Million

The deed is done. Earlier this week Kodak sold 1,100 of their digital imaging patents giving them the potential to escape bankruptcy. Originally it was Google and Apple fighting over the patents, but the two competitors teamed up along with Samsung, Facebook, Microsoft, RIM, Fujifilm, HTC, Amazon, Huawei and Shutterfly. Two groups organized the collective effort: RPX Corporation and Intelectual Ventures, which has been known to go after big manufacturers for patent infringements.  Although Kodak predicted that they would fetch up to $2.6 Billion, the final bid was somewhere around $525 Million...perhaps a reflection of the digital market in general. The money they collect for the patents will go towards the $830 Million that they were granted a year ago. Although Kodak no longer owns the patents they still have license to use them in the future. If Kodak does get out of bankruptcy where do they see themselves in the future? Antonio M. Perez, Kodak’s chief executive, stated that they are focusing their efforts on printing and packaging for commercial businesses. As for their film division, Kodak has put it up for sale, but it remains unsold.

Comments