Kodak closes its digital imaging patent sale, settles disputes

Kodak has had many scary moments in its recent history, not the least of which was wondering whether or not it could sell digital imaging patents to help escape bankruptcy. It's putting some of that trauma to rest now that it has officially closed the recently approved sale. The $527 million deal shares 1,100 patents with a complex web of companies, including Apple and Google, operating under alliances led by Intellectual Ventures and RPX. The buyers intend to use the patents as defenses against imaging-related lawsuits, and they've agreed to settle any remaining legal entanglements with Kodak in the process. Kodak still stands to gain the most from the deal, however: the cash helps repay a large chunk of a key loan, and it reassures the potential financiers that the company needs to leave bankruptcy by mid-2013. We still won't get back the Kodak we once knew, but the name will at least soldier on.

Filed under: Cameras, Apple, Google

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