Judge Allan L. Gropper has just approved Kodak’s sale of 1,100 patents to Apple, Google and other tech companies. This sale includes many digital imaging patents that relate to the capture and display of the images themselves. Apple and other companies have put $527 million together to purchase the patents, though Kodak wanted $2 billion for the patent collection. Even Judge Gropper called the outcome of the sale “disappointing”, though he agrees the cash is much needed to help Kodak come out of the grave as a whole new company.
Kodak needed to earn at least $500 million from the sale according to the company. The complete list of buyers is pretty extensive and includes Apple, Google, Microsoft, Adobe, Samsung, RIM, Fujifilm, Facebook, Huawei Technologies, Amazon, HTC and Shutterfly. Originally, Apple and Google led two different packs of potential buyers, though the companies teamed up in the end.
Image Credit: glen edelson