Struggling Kodak has finally agreed to sell its digital imaging patents to Intellectual Ventures and RPX Corporation — two consortiums backed by Apple, Google, Microsoft, and others — for $525 million. Kodak will receive a portion of the money from 12 intellectual property licensees, with each licensee receiving rights to the patents, while another portion will be paid by Intellectual Ventures, which will then acquire the digital imaging patent portfolio, plus the new and existing licenses.
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US District Judge George Daniels denied Apple’s proposal to move the patent dispute with Eastman Kodak Company out of bankruptcy court and into his own District Court today. If Apple had been granted the proposal, it could have been tough going for Kodak’s plans to actually sell the technology.
Eastman Kodak’s bankruptcy filing early this morning was not a Kodachrome moment. However, the death of the film pioneer means its rebirth as a digital brand, complete with threats of patent lawsuits against Apple and others.