By GrabNetworks
Apple and Google are teaming up to acquire Kodak's patents. The exact mix of selection is not known yet, but the two tech companies are looking to spend between $150-$250m. Kodak filed for bankruptcy on Jan 19 of this year. Many of us recall Kodak was once the global leader in film and photography and a former member of the Dow Jones Industrial Average. It didn't quite catch the transition from film to digital quickly enough and ultimately lost grounds to its Japanese challengers. What it has left is a wide array of patents, including over 1000 digital patents worth up to $3B in auction. E-commerce and online photo service Shutterfly purchased Kodak's online photo gallery business for $23.8M in the spring, which kicked off Kodak's reorganization effort to build a smaller but hopefully more profitable company. For more news and updates, keep it right here at the Financial News Network. I'm Julia Sun, follow us online for more news on the go.
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Source: http://www.itbusinessnet.com/articles/viewarticle.jsp?id=2153352
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