Apple And Google Win $527 Million Bid For Kodak Patent Trove [Report]

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Back in early December, Apple and Google joined forces to purchase a patent trove from Kodak, the once-reigning photography king. Kodak’s collection includes 1,100 imaging patents that can be used to diffuse litigation between big companies in the tech industry.

To keep bidding wars from escalating, Apple and Google teamed up for the purchase. After filing for bankruptcy, Kodak said that its patent trove was worth $2 billion, but the U.S. court approved a $527 million price tag instead.

What the companies involved with this deal plan to do with the acquired patents remains to be seen.

Source: Bloomberg