Kodak sells its imaging patents for $525M

From CNET News.com: Eastman Kodak has a buyer -- or better said, buyers -- for its coveted treasure trove of digital imaging patents.

Under the agreements announced today, Kodak is selling the bundle for approximately $525 million, part of which will be paid by 12 intellectual property licensees organized by Intellectual Ventures and RPX Corp. Each licensee will receive rights to the patent portfolio and certain other Kodak patents. Another portion of the money will be paid by Intellectual Ventures, which is acquiring the digital imaging patent portfolio subject to these new licenses, as well as previously existing licenses, Kodak said.

The deal also includes an agreement to settle patent-related litigation between the participants and Kodak.

Kodak's imaging patents have been the object of desire among a host of technology giants that have been embroiled for months in various legal battles over intellectual property. The lust for patents even has companies being both partners and combatants at the same time, as in the case, for instance, of Apple and Google.

Sources familiar with the negotiations said Intellectual Ventures and RPX are representing a who's who of big tech and imaging companies, including Apple, Research In Motion, Google, Samsung, Adobe, HTC, Fujifilm, Facebook, Huawei, Amazon, Shutterfly, and Microsoft. The deal must still be approved by a bankruptcy court in January and would close 45 days after that.

It's not immediately clear how exactly these patents will be divvied up. In July, Kodak lost a patent battle against Apple and RIM over digital imaging technology. Kodak claimed in front of the U.S. International Trade Commission that it was owed more than $1 billion in the case, which had dragged on for nearly 30 months. The dispute was over a small portion of the 1,500 patents.

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