Kodak sells its patents for $ 525 million
Kodak has agreed to sell its digital imaging patents valued at $ 525 million as part of the plan to remove the company from bankruptcy in the first half of 2013.
Clearly, the move to digital photography has not sat well with a company that has failed to reinvent itself. So after filing for bankruptcy in January 2013, have now decided to sell some of the most important assets they have, their patents. The purchase is guaranteed to RX Corp and Intellectual Ventures. RX Corp is a consortium of twelve companies which are:
- Apple, Inc.
- Research In Motion Limited
- Google Inc.
- Samsung Electronics Co., Ltd.
- Adobe Systems Incorporated
- HTC Corporation
- Facebook, Inc.
- Fujifilm Corporation
- Huawei Technologies Co., Ltd.
- Amazon Fulfillment Services, Inc.
- Shutterfly, Inc.
- Microsoft Corporation
The agreement has been reached involving some 1,100 Kodak patents and assures power obtain $ 830 million in funding. The consortium is a good way to complete the purchase because although some of the companies that comprise it have pending litigation, it is wiser to join and get a patent with fixed costs have to wait to see what the judges say about each case. Also makes the price of patents not rise excessively to avoid a price war.
For kodak patent registration is one of its greatest assets. In January was when Kodak filed for bankruptcy and it was estimated that the value of patents was 2.6 billion. But it seems that many patents that do not cost the Kodak executives expected since the price obtained is much lower than estimated.
With this move and the alleged emergence from bankruptcy Kodak is expected to exit the consumer market and focuses on providing products and services for professional market. Currently the sale of patents is subject to approval by the U.S. Bankruptcy Court.Tags: kodak, patents, Picture