|Dec 7, 2012, 11:34 PM||#1|
Apple and Google Teaming Up on $500 Million Bid for Kodak Patents
Bloomberg reports that Apple and Google have joined forces to put forward a bid of more than $500 million to purchase the patent portfolio of bankrupt imaging pioneer Eastman Kodak.
The report does not indicate why Apple and Google ultimately decided to abandon their separate bids and team up on an offer for Kodak's patents, although a previous report had indicated that the two sides were likely cooperating in order to prevent a bidding war that would drive up the cost of the patents.
Kodak's bankruptcy financing is contingent upon the company receiving at least $500 million for its patent portfolio, and the joint bid by Apple and Google seems to meet that requirement.
Apple and Kodak have a bit of an interesting history, having worked together on a mid-1990s project for Apple's QuickTake line of digital cameras. The intellectual property from that collaboration has been the subject of some dispute, with Apple claiming that Kodak is not the rightful owner of patents related to that work.
Article Link: Apple and Google Teaming Up on $500 Million Bid for Kodak Patents
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