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Wednesday, December 19, 2012

Kodak Announces Sale of Patents

Kodak has sold its digital imaging patent portfolio for approximately 525 million dollars. The price will be paid partly by 12 intellectual property licensees organised by Intellectual Ventures and RPX Corporation, with each licensee receiving rights with respect to the digital imaging patent portfolio and certain other Kodak patents; partly by Intellectual Ventures, which is acquiring the digital imaging patent portfolio subject to these new licenses. “This monetization of patents is another major milestone toward successful emergence,” Antonio M. Perez, Chairman and Chief Executive Officer, said. “Our progress has accelerated over the past several weeks as we prepare to emerge as a strong, sustainable company. This proposed transaction enables Kodak to repay a substantial amount of our initial DIP loan, satisfy a key condition for our new financing facility, and position our Commercial Imaging business for further growth and success.”

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