The patent sale is part of Kodak's strategy to emerge from bankruptcy. The company filed for Chapter 11 protection in January 2012. A stipulation of a $950 million loan it received from Citigroup to remain afloat required it to sell off some of its intellectual property. However, the final … Read more
Eastman Kodak has a buyer -- or better said, buyers -- for its coveted treasure trove of digital imaging patents.
Under the agreements announced today, Kodak is selling the bundle for approximately $525 million, part of which will be paid by 12 intellectual property licensees organized by Intellectual Ventures and RPX Corp. Each licensee will receive rights to the patent portfolio and certain other Kodak patents. Another portion of the money will be paid by Intellectual Ventures, which is acquiring the digital imaging patent portfolio subject to these new licenses, as well as previously existing licenses, Kodak said.
The deal … Read more
Apple and Google might be opponents competing for smartphone and tablet customers, but according to a Bloomberg report they have joined forces to acquire Eastman Kodak's 1,000 imaging patents for more than $500 million. The Wall Street Journal first reported on the possible alliance in August. Previously, the Journal reported that Apple and Google were each leading separate consortiums to purchase the patents in the range of $150 million to $250 million.
Apple and Research In Motion can now intervene in Kodak's efforts to reinstate its patent case against the two tech giants, which was tossed by the U.S. International Trade Commission earlier this year.
In a court order (pdf) posted last week, the U.S. Court of Appeals for the Federal Circuit in Washington, D.C., said both Apple and RIM could intervene in the case, in which Kodak accused the two companies of infringing on its patents.
The decision means both companies can participate in Kodak's appeal and defend the products accused of infringement.
Kodak originally filed … Read more
The ailing Eastman Kodak will be required to cut more jobs, the company said today in a statement.
By the end of the year, Kodak expects to reduce its workforce by 1,000 more employees, saving the company about $330 million in salary and benefits. Kodak has already laid off 2,700 employees from its workforce since the beginning of this year.
"We recognize that we must significantly and expeditiously reduce our current cost structure, which is designed for a much larger, more diversified set of businesses," Kodak chairman and CEO Antonio Perez said today in a statement.… Read more
Friday's tech news roundup can ease symptoms of Gadget News Overload:
Kodak is selling the business that made it famous.
The company revealed yesterday that it's selling its traditional print film business as part of an auction to raise cash.
The sale extends to Kodak's entire personalized imaging and document division, which includes kiosks that develop photos, photo paper and still camera film products, and even equipment that snaps souvenir photos at theme parks.
Before the digital age, Kodak held the market on consumer photography and was virtually synonymous with the word "film."
The auction is part of the company's aim to segue from consumer products … Read more
Companies that seemingly hate each other in the mobile space are teaming up over Kodak's patents, a new report claims.
Over the last few days, Apple and Google have joined forces to bid on Kodak's patent portfolio, The Wall Street Journal is reporting, citing unnamed sources. Perhaps even more strange, the Journal claims that the consortium includes Samsung, Apple's arch-nemesis.
Kodak put its patents up for sale as part of a bankruptcy filing. According to earlier reports, Apple and Google had formed their own consortium to acquire the patents and bid around $150 million to $250 million … Read more