The Drum Awards Festival - Official Deadline

-d -h -min -sec

Court approves ‘disappointing’ $527m Kodak patent sale to Apple consortium


By John Glenday, Reporter

January 14, 2013 | 1 min read

A US bankruptcy court overseeing the disposal of Kodak’s remaining assets has given its approval to a $527m sell-off of its digital imaging patents to an Apple led consortium, including the likes of Google and Microsoft.

The approval clears the way for Kodak to offload some 1,100 patents relating to the display and capture of digital images, although the price obtained was some way short of the hoped for $2bn.

Judge Allan L. Gropper branded the sale price ‘disappointing’ but waived it through in order to bring bankruptcy proceedings to their conclusion.

This will enable Kodak to re-emerge with a new look targeting commercial customers.


Industry insights

View all
Add your own content +