Kodak, which recently went into Chapter 11 bankruptcy, currently has a large amount of digital imaging patents that are worth over $2 billion dollars. Now, a new report states that Microsoft, as well as Apple and Google, are looking to bid on these patents. It’s not surprising to see three rival companies teaming up, as this allows for competitors to neutralize potential infringement litigation.
“The Apple-led group pursuing Kodak’s patents included Microsoft and Intellectual Ventures Management LLC as of July, while Google’s partners included patent- aggregation company RPX Corp. and Asian makers of Google’s Android phones. The two groups had separately offered less than $500 million for Kodak’s portfolio. They now teamed up to offer more together,” the report states. According to court documents, Kodak has stated that their patents are worth between $2.21 billion dollars and $2.57 billion dollars. Kodak was generating more than $3 billion dollars in revenue by licensing some of the digital imaging patents to companies like Samsung and LG. Kodak listed $5.1 billion dollars in assets and $6.75 billion in debt during its bankruptcy filing. All three companies have yet to make an official statement regarding the bid and teamup.