Apple, Google Reportedly Bid $500 Million For Kodak Patents

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Two technology giants had previously led separate consortiums to purchase the patents.

Apple and Google may be set to form an unlikely partnership in order to acquire Kodak's numerous imaging patents.

Bloomberg sources have claimed the companies have abandoned separate bids to acquire the 1,100 patents belonging to the financially troubled Kodak, subsequently teaming up with a $500 million bid.

Apple and Google were each leading separate consortiums to purchase the patents in questions for a price ranging from $150 million to $250 million.

Kodak, which had filed for bankruptcy protection back in January, is required to sell the patents in order to help pay a $950 million loan from Citigroup. The company expects to exit bankruptcy in 2013, while court documents had revealed that the firm valued its patent portfolio at around $2.6 billion.

Google had recently stressed that it's baffled by Apple's decision to sue Android partners instead of directly suing the search engine giant itself.

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Zak Islam
7 Comments Comment from the forums
  • Gundam288
    Did they also make a offer for a nuclear reactor as well?

    http://www.tomsguide.com/us/Kodak-Nuclear-Reactor-New-York-Rochester-Uranium,news-15200.html
    Reply
  • COLGeek
    This new business model achieves to maximize profits through litigation. Impact to users is likely minimal, but other businesses should beware.
    Reply
  • COLGeek
    On topic? The issue are patent licenses already in use. I would expect those licensing costs to rise or to not be made available to increase a competitive edge. The issue is not what Apple/Google would do with them themselves, rather how the patents will be used against others.
    Reply
  • robochump
    COLGeekOn topic? The issue are patent licenses already in use. I would expect those licensing costs to rise or to not be made available to increase a competitive edge. The issue is not what Apple/Google would do with them themselves, rather how the patents will be used against others.
    As long as Samsung doesn't get their mitts on any of the patents.
    Reply
  • dgingeri
    Either company has the money to buy them outright for the $2.6 billion Kodak says they're worth. Why are they bothering to team up to spend what amounts to them as pocket change?
    Reply
  • dgingeri
    COLGeekThis new business model achieves to maximize profits through litigation. Impact to users is likely minimal, but other businesses should beware.
    impact to users is always more than minimal when a company loses money. The people who buy the products have to spend more because of it. If the extra costs are on both sides, as is the case with the Apple/Samsung situation, then the users have no choices but to spend more on one side or the other, unless they just have no use for either. Sure, my Mom isn't going to lose money over it, but I sure am.
    Reply
  • kartu
    GG startups. Thank you, oh mighty USPO...
    Reply