Kodak has sold its digital imaging patents to 12 licensees organized by Intellectual Ventures and RPX Corporation for $525 million. The licenses are: Apple, Google, Samsung, HTC, Faceboook, Fujifilm, Microsoft, RIM, Adobe, Huawei, Amazon and Shutterfly.
After months of posturing, struggling photographic firm Kodak has announced that it has sold its digital imaging patents to Apple and Microsoft-backed Intellectual Ventures and RPX Corporation — a consortium backed by Google, LG and HTC for $525 million.
In a statement, Kodak says that it will receive the money from 12 intellectual property licensees organised by Intellectual Ventures and RPX Corporation, granting them licensing rights to Kodak’s digital imaging and other patents.
The 12 licensees include Apple, Google, Samsung, HTC, Faceboook, Fujifilm and Microsoft and other technology giants including RIM, Adobe, Huawei, Amazon and Shutterfly which have combined in their respective consortiums to help Kodak recover from its recent bankruptcy. The company notes that the “monetization of IP assets further builds on its momentum toward a successful emergence in the first half of 2013.”
For Kodak, the deal enables it to focus on its commercial imaging technology, an area where it believes it has “significant competitive advantages and strong growth prospects.”