Apple and Google Buy Kodak Patent Portfolio for $525 Million

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Apple and Google have worked together to buy Kodak’s patent portfolio for $525 million.

The imaging patents were a key asset to the bankrupt Kodak and the money will help pay off debt so it can restructure:

The bankrupt company announced this morning that it’s finally sold off its patent portfolio. Picking up the imaging patents are patent companies Intellectual Ventures and RPX Corporation, which represent Apple and Google, respectively.

It’s a sad end to an era I think. Hopefully Apple and Google will put Kodak’s patents to good use.

Via: Venture Beat

Photo from Flickr by Terri Monahan.

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