Google and Apple team up on bid for Kodak Patents

Usually when Google, Apple and patents are in the same sentence it is because of some law suit or infringement case. This time it is about avoiding such a situation. Combining their bank accounts to offer a bid of $500 million for the Eastman Kodak Company’s patents out of bankruptcy. If the bid is accepted, then the two parties would hold the patents together and would keep each other from having any sort of legal infringement leg to stand on if used. It also lets both front some cash and minimize the out-of-pocket expense in picking up the patents as well.

“They have decided to come together in this process to reduce the cost of purchasing the Kodak patents, while meeting their business needs.” Said Richard Ehrlickman

Of course spoke people for both sides won’t offer up a comment about the supposed amount, rumor of purchase or speculation about an offer. Sources for Bloomberg have confirmed that mentioned price tag though.

This bid would allow the two to have possession of 1,100 imaging patents that Kodak currently holds. It is interesting to note that the sale of the patents would help fund a turn around after Kodak filed Chapter 11 Bankruptcy. They obtained commitment for $830 million exit financing last month all contingent on the sale of the patents for a minimum of $500 Million. Looks like that minimum bid is now in place and could help save Kodak.

Kodak is obviously known for photography and imaging. The patents are all related to the capture, manipulation and sharing of digital images. We all know how much Android and Apple use cameras, camera apps, software, sharing features and various other things for us. The purchase could bring some new abilities to all of our devices that we are sure to appreciate. All without the fear of a looming infringement case brought on for its use.

Source: Bloomberg