Thursday, July 24, 2014

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Apple and Google May Buy Kodak Patents

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According to Bloomberg News, Apple and Google are teaming up to offer a bid to buy Eastman Kodak's patents out of bankruptcy.

The article says the two companies are partnering together to offer more than $500 million to buy Kodak's 1,100 imaging patents.

The article cites two people with knowledge of the situation who have asked not to be identified. According to the report, none of the companies involved will comment.

On Wednesday, the Wall Street Journal reported that Kodak had received an offer of more than a half billion dollars for its portfolio of digital patents, but said a deal for the patents had not been reached.

The Journal said the offer came from an "unidentified consortium of bidders," including Silicon Valley tech companies and firms.

Selling the patents for $500 million was a condition of a recent financing offer that Kodak accepted worth about $830 million to help the company emerge from bankruptcy.

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