Apple and Google teaming up to buy Kodak patents
Dec 10, 2012 at 17:44 GMT
Financial news service Bloomberg is reporting Apple and Google are working together to purchase some of Kodak's imaging patents. The companies are said to be working together - lending more weight to reports in the Wall Street Journal from back in August. The story suggests the two companies, along with the groups of smaller companies with whom they'd been preparing bids, will offer more than $500m for the patents. Such a figure would give Kodak access to $830m of external funding that is dependent on the value of the patent deal.
Even if this extra line of credit does allow Kodak to emerge from the bankruptcy protection process, the company will no longer include any of its consumer-facing operations, having sold and closed them over the past few months.