The financially troubled company will be selling the bundle for around $525 million. A portion of that figure will be paid by 12 intellectual property licensees via RPX Corp. Each licensee will obtain rights to the patent portfolio, as well as other select Kodak patents. Another segment of the money will be paid by Intellectual Ventures.
The deal also includes an agreement to settle patent-related lawsuits between the involved parties and Kodak. The deal itself is required to be approved by a bankruptcy court in January, followed by 45 days to complete the deal.
Sources familiar with negotiations said Intellectual Ventures and RPX are representing several large imaging and technology companies, including Apple, Research In Motion, Google, Samsung, Adobe, HTC, Fujifilm, Facebook, Huawei, Amazon, Shutterfly and Microsoft.
"This monetization of patents is another major milestone toward successful emergence," said Kodak's Antonio M. Perez, Chairman and Chief Executive Officer. "Our progress has accelerated over the past several weeks as we prepare to emerge as a strong, sustainable company. This proposed transaction enables Kodak to repay a substantial amount of our initial DIP loan, satisfy a key condition for our new financing facility, and position our Commercial Imaging business for further growth and success."
Kodak is selling its patents in order to help pay back a $950 million loan it received from Citigroup to stay in business. Both Apple and Google were previously rumored to be joining forces to submit a $500 million bid for the patents.
Right now to my knowledge from a quick glance at wikipedia they seem to be focusing on printing. Something I don't associate them with, or will think "Hay I need a kodak printer" its more of a "Kodak a name brand for cameras I should look at those.".
sadly they took to long to get to market...
what i would like to see though is digital film for slr cameras... i can pick up some old ones for 100-200$ and would be SO much better than many 600-800$ cameras, but you just cant get film for them... or cheap anymore...
so a digital film you put into the camera and than it takes pictures like normal would be a god send.
JamesSneedKodak had some awesome R&D so im sure these are worth it. Whats sad is their R&D invented the digital camera in 1975 but short sided management sat it on the back burner to sell more film. They would absolutely own the digital camera market if they had just left it up the their engineers.
no... they were smart, back than digital film wasnt ANYWHERE near where it needed to be. hell, even when digital came around people only used it because it was cheaper.
digital was horrific for a long time, and film, and until around the 8-12mp cameras was allot higher quality, and for the most part, film is FAR higher quality than most digital cameras (take note im going into slr and dslr range when i say that, not just point and shoot) but digital is a far cheaper and easier option.
the only thing that kodak did wrong was when digital camers finaly came around, they brought nothing to the table, still supporting film over digital. hell, kodak could have stayed out till consumer cameras were 3mp and they would still be around, but now... they offer great cameras for their prices, but everyone else is so much further established, that you can hardly compare offerings.
i would only use a kodak camera as a secondary camera that i dont mind to much if it gets stolen or breaks