Saturday, January 12, 2013

Judge gives green light to Kodak Patent Sale

Last year Kodak filed for Chapter 11 bankruptcy and was done with a plan to sell its collection of patents on images to help pay its debts. He wanted more than 2,000 million dollars, but finally accepted an offer of $ 525 million offered by a consortium of companies led by Apple and Google. And today, Allan Gropper, judge of the bankruptcy court has given the green light to the deal.

venta kodak El Juez da Luz Verde a la Venta de Patentes de Kodak

Green light for Kodak patent sale to a consortium of companies led by Apple and Google

As reported by Reuters:

"The proposed sale of digital imaging patents Kodak Ventures and RPX Corp. for $ 525 million, has received approval from a bankruptcy judge, so the photography company would be closer to emerge from Chapter 11 .

Judge Allan Gropper gave the green light to a hearing in the Bankruptcy Court in Manhattan. "We are disappointed with the price, but we managed to move a bit forward the case," Gropper said. "

The consortium, led by Intellectual Ventures and RPX, included 12 technology giants: Apple, Research In Motion, Google, Samsung, Adobe, HTC, Facebook, Fujifilm, Huawei, Amazon, Shutterfly and Microsoft. Each company will receive licenses for a batch of 1,100 patents covering everything from mobile to digital imaging inventions.

Despite the lower price, Kodak says it is happy with the agreement and approval of the court. This agreement allows the company to carry out a plan to secure $ 830 million in financing and exit from bankruptcy in the first half of the year. "Monetizing IP assets nonstrategic get one of the key objectives of the Kodak restructure its business while positioning the image, the highest growth and success, "the company said in a statement sent to Reuters.

So it seems that, for now, the Kodak story is not over yet. And Apple, Samsung and other technology companies just acquired important patents, for once, can not be used to sue each other, because they are all holders thereof. You could say it worked out well for everyone.

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