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Apple, Google Offer Bid on Kodak Patents


According to a report from Bloomberg, rival firms Apple and Google have forming a consortium to offer $500 million to purchase more than 1,100 digital imaging patents currently held by Kodak and share them in a pool.

Kodak, which is currently going through bankruptcy proceedings and selling off many of its assets, said it wanted more than $2 billion for the intellectual property. At press time, however, no offer has yet been accepted by Kodak.

In an statement from Kodak in mid-August, the company said that it had not “reached a determination or agreement to sell the digital imaging patent portfolio, and may retain all or parts of it as a source of creditor recoveries in lieu of a sale if it concludes that doing so is in the best interests of the estate.”

Others companies that had reportedly been part of the consortium included Samsung, HTC, LG Electronics, Intellectual Ventures Management LLC and RPX Corp.