Kodak has agreed to sell itsdigital imaging portfolio to a consortium of 12 licensees for $525 million, organized by patent-holding company Intellectual Ventures and patent risk advisory firm RPX Corporation . It said it will use the proceeds from the sale to pay down bankruptcy debt — the transaction is subject to the approval of the BankruptcyCourt, as well as “certain customary conditions”.
Kodak said a portion of the money will be paid by the 12 licensees, giving each licensee rights to the digital imaging patent portfolio and “certain otherKodak patents”, while another portion of the money will be paid by Intellectual Ventures, which Kodak said will be acquiring the digital imaging patent portfolio “subject to these new licenses, as well as previously existing licenses”.
It is unclear exactly who all12 licensees are but Earlier this month Bloomberg reported that Apple and Google were
