Eastman Kodak has completed a series of agreements to monetise its digital imaging patents. Under the agreements, Kodak will receive approximately USD 525 million, a portion of which will be paid by twelve intellectual property licensees organised by Intellectual Ventures and RPX, with each licensee receiving rights to the digital imaging patent portfolio and certain other Kodak patents. Another portion 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.
The transaction also includes an agreement to settle current patent-related litigation between the participants and Kodak. The licensees include Apple, Google, Samsung, Facebook, Amazon.com, Microsoft, Research In Motion, Huawei, Adobe Systems, Fujifilm, HTC and Shutterfly, the Wall Street Journal reports. People familiar with the details of the transaction also said that Apple acquired a small number of the patents directly.
The proposed transaction is subject to approval of the Bankruptcy Court and the satisfaction of certain customary conditions before closing.
