Printing Impressions

You will be automatically redirected to piworld in 20 seconds.
Skip this advertisement.

Advertisement
Advertisement
 

Report: Apple and Google Align to Bid on Kodak Patents

December 14, 2012
ROCHESTER, NY—Apple Inc. and Google Inc. have offered more than $500 million to buy Eastman Kodak's patents out of bankruptcy, Bloomberg News reported. The entities partnered after leading two separate groups in the quest to purchase a number of Kodak's 1,100 imaging patents, Bloomberg said, quoting people familiar with the situation.

The move is aimed at reducing the cost of purchasing the patents. Kodak has commitments for $830 million in Chapter 11-exit financing, contingent on the sale of its patents for no less than $500 million. Kodak entered bankruptcy protection last January.

Kodak is selling its patents in the hope of turning around its business while focusing on commercial printing, packaging and enterprise services.
 

Companies Mentioned:

COMMENTS

Click here to leave a comment...
Comment *
Most Recent Comments: