Here is interesting news that has brought the two main rivals the Apple and Google nearer. Apple and Google have now finally made the team that will buy the Kodak’s portfolio of different patents out of bankruptcy for an estimated price of $500 M, according to the reports of Bloomberg. Both the companies are considered as the strong rivals in terms of smart phones.
Previously both the companies were present in the court on account of different litigations that have been raised by either of the companies on each other. But now, in order to finalize this deal, both the companies have come to the table and have agreed to buy the portfolio of Kodak’s patents.
About this deal, the leading analyst of the market has strong opinions that this will be a smart business for both the companies. Both the companies have spent lot of money and time in courts over the patent issues. Now they are jointly willing to acquire about 1,100 imaging patents.
The Bloomberg has also reported that Apple had made team with Microsoft and Google was also working with the RPX Corp.
According to the Bloomberg, both the companies have four months time to produce and provide the joint bid. The analysts of the market are quite hopeful that both the companies will arrange the funds within this stipulated time period.
The Kodak is now selling its patents as a result of bankruptcy that was filed in January after showing $5.1 billion in assets and $6.75 billion in debts. During the last month, the company obtained different commitments for estimated prices of $830 million. So in order to facilitate the company, the Apple and Google have made plan to acquire the imaging patents at the cost of $500 M.
Tags: bankruptcy of kodak, imaging patents, Kodak