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Apple and Google buying up Kodak patents

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Kodak's imaging patents include their lunar module camera used to take this photo of the earth rising in 1966.

Kodak may be selling some of its 1,100 imaging patents to Apple and Google. According to Bloomberg, the two competing mobile giants are setting aside their differences to edge out competitors like Blackberry’s RIM. 

Kodak was once king of the camera industry, claiming 90% of U.S. film sales in 1976. Now, the 132-year-old company is selling its assets as it files for bankruptcy.

Bloomberg spoke with some unnamed sources about the sale:

Apple Inc. (AAPL) and Google Inc. have joined forces to offer more than $500 million to buyEastman Kodak Co. (EKDKQ)’s patents out of bankruptcy, said people familiar with the situation.

The two companies, competing for dominance of the smartphone market, have partnered after leading two separate groups this summer to buy some of Kodak’s 1,100 imaging patents, said the people, who asked not to be identified because the process is private.

[...]The Apple-led group pursuing Kodak’s patents included Microsoft and Intellectual Ventures Management LLC as of July, the people said, while Google’s partners included patent- aggregation company RPX Corp. and Asian makers of Google’s Android phones. The two groups had separately offered less than $500 million for Kodak’s portfolio. They now teamed up to offer more together, said two of the people.

 Read the rest of Bloomberg's coverage here.

Comments

Total comments: 3
Dimitri_P
By Dimitri_P (Dec 10, 2012)

Perhaps the Kodak demise was an inside job after all.
Too bad Kodak wasn't into car manufacturing; or banking.

0 upvotes
RDMPhotos
By RDMPhotos (Dec 10, 2012)

This sickens me... Kodak is selling off its parts like a Homeless man selling body parts on the black market.. It should be reformulating a Mission plan instead of hacking itself to death.
This is a Fine and famous brand name that has been around for over a century. They should start living up to their pedigree and they will need all the capital and royalties they can get, if they want to do it properly.

Comment edited 2 minutes after posting
0 upvotes
CollBaxter
By CollBaxter (Dec 10, 2012)

$500 million for Kodak’s patent portfolio . They often pay this type of money for a couple of crappy start ups. The word carpetbagger comes to mind.

Comment edited 3 minutes after posting
0 upvotes
Total comments: 3
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