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.
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.
Apple and Google joining forces? Welcome to the Cold War (patent pending).
Kodak filed for Chapter 11 bankruptcy back in January, and since then the photography pioneer has been trying to sell off its many patents. Over the summer it was reported that Apple and Google were leading separate groups in a bidding war for the valuable portfolio. Now a new report says that Apple and Google have teamed up to place a $500 million bid.
Neither company has bid anything close to Kodak’s $2.6 billion estimate.
Kodak is on the verge of bankruptcy, but in a final bid to raise some cash, the company is selling off its entire patent portfolio. The company believes it could fetch upwards of $2.6 billion, and Apple and Google are going head to head for them. However, neither company has submitted a bid anywhere near Kodak’s estimate.
Sorry, Apple, but this stays in bankruptcy court for now.
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.
Kodak Brownie iPhone Skin (Photo by Photo Giddy - http://flic.kr/p/baXKwr)
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.
Eastman Kodak has announced its plans to sue Apple and HTC for violating several of its patents relating to digital imaging. The once-profitable camera company claims that Apple’s iOS devices and HTC’s smartphones infringe on Kodak patents for transmitting images digitally and between devices.
Attention patent shoppers: aisle one has a deal on digital imaging. Kodak is worth billions – not as a company, but for its patent portfolio. Indeed, just a portion of Kodak’s intellectual property is worth more than five times its stock value. Are you listening, Apple?