Troubled imaging firm sells off patents and tech titans appear to have gotten what they were after
The troubled imaging company said the money would be paid by 12 intellectual property licensees organised by Intellectual Ventures and RPX Corporation. Both of those have reportedly worked with Apple, Google and Microsoft on obtaining the patents.
According to various reports earlier this year, Apple and Microsoft were working with Intellectual Ventures Management on getting hold of some of Kodak’s intellectual property, whilst Google had partnered with RPX and a number of other Android phone makers.
Kodak back on track?
“Our progress has accelerated over the past several weeks as we prepare to emerge as a strong, sustainable company,” said Kodak CEO Antonio Perez.
“This proposed transaction enables Kodak to repay a substantial amount of our initial DIP loan [loans used to recover a business], satisfy a key condition for our new financing facility, and position our Commercial Imaging business for further growth and success.
“Kodak remains a major centre of invention and innovation.”
At the time of publication, none of the above companies had responded to a request for comment on who had won which patents.
Kodak has had a torrid 2012. Back in January, the company filed for Chapter 11 bankruptcy protection in the hopes of salvaging the 120 year old establishment. It hoped that it would be given time to refocus the business and sell off “non-core IP assets”.
After losing court battles over patent disputes with the likes of Apple, HTC and RIM, Kodak had valued its saleable IP at $2.6 billion, but won’t even be getting a quarter of that.
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