Posts Tagged ‘kodakpatentsale’

Rivals Apple and Google Team Up in Bid for Kodak’s Valuable Imaging Patents

Yesterday we shared some news courtesy of the Wall Street Journal that Kodak had received a generous bid for its patent patent portfolio of over $500M. This was good news for Kodak, seeing as $500M was the mark the company had to hit in order to receive $830M in exit financing that would play a crucial role in helping Kodak dig its way out of bankruptcy.

However, all we knew at the time was that the bid was being put forth by a “consortium of bidders” out of Silicon Valley. Well, as it turns out, that consortium is being led by none other than the unlikely team of Apple and Google.
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Kodak Patent Bids Exceed $500M: Slow Climb Out of Bankruptcy Continues

Over the last year, no news has been good news for Eastman Kodak. The company’s slow and painful climb out of bankruptcy has involved everything from corporate greed to lost patent wars and sub-par auction outcomes. But just a few weeks ago a flickering light emerged at the end of the tunnel for Kodak in the form of $793M in conditional financing.

In fact, since we last reported on the story, the loan amount has gotten even bigger. That sizable $793M has been upped to $830M, every dime of which Kodak desperately needs to get its hands on if it ever intends to escape bankruptcy. But as the saying goes: there’s no such thing as a free lunch — and definitely not one worth $830M. The banks that have agreed to help Kodak out made the financing conditional: Kodak doesn’t get the money unless the company’s long-awaited patent sale exceeds $500M. Read more…

Apple and Google Each Form Alliances in Preparation for Kodak Patent Battle

The deadline to put up initial bids for Kodak’s 1,100 patent sale is Monday, and The Wall Street Journal reports that the two biggest contenders, Apple and Google, are forming “coalitions” with other companies in preparation for the all out patent brawl. The last time this happened, an Apple/Microsoft alliance ended up winning the battle against Google, that time over a patent sale by Nortel Networks. Read more…

Kodak Moving Forward With Patent Sale, 20 Potential Buyers Surface

Recent news coming out of Rochester yesterday points to the fact that Kodak will be selling off its two massive patent portfolios sooner rather than later, and regardless of any progress made in the suit against Apple and RIM. In accordance with the June 30th deadline outlined in their lending agreement, Kodak has already filed a motion with the bankruptcy court — to be approved at a hearing on July 2nd — petitioning for a closed bids auction due to the “special nature of the assets.” Read more…