Kodak, which filed for bankruptcy in early 2012, has successfully sold off its patent portfolio, one of its last remaining assets. In a release today, Kodak announced that it had agreed to transfer its imaging patents to Intellectual Ventures and RPX Corporation, a pair of patent licensing groups. In return, it will receive $525 million, something Kodak CEO Antonio Perez says will let the company "repay a substantial amount of our initial [bankruptcy financing] loan, satisfy a key condition for our new financing facility, and position our Commercial Imaging business for further growth and success."
The deal has yet to be approved by the bankruptcy court, but if it goes through, the money will be paid by 12 separate licensees organized...
via The Verge - All Posts http://www.theverge.com/2012/12/19/3783690/kodak-sells-patents-to-intellectual-ventures-rpx-corporation
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