Kodak imaging patents sold for $525 million

Eastman Kodak had been in talks to sell approximately 1,100 patents out of bankruptcy as the Rochester, NY company transitions from its camera business to commercial packaging and printing. 

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Per a report from Reuters today, the company sold its imaging patents to a consortium led by Intellectual Ventures and RPX Corp. in a deal representing 12 licensees. Among the companies noted in the sale are Apple, Google, RIM, Microsoft, Amazon, Facebook, Samsung, Adobe, Fujifilm, HTC, Huawei, and Shutterfly. 

The deal totals $525 million, exceeding the amount needed to satisfy Kodak's bankruptcy commitments heading into 2013. Previous estimates of the patents' value had been placed at $2.6 billion, Bloomberg reports, while Kodak has been able to generate a reported $3 billion in revenue by licensing some of the patents to companies such as Samsung, LG Electronics, Google's Motorola Mobility unit, and Nokia. 

Read the official press release from Kodak here

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