Kodak Agrees to Sell Digital Patents, Eyes Bankruptcy End

Eastman Kodak Co. agreed to sell its digital imaging patents for about $525 million, a key step to bringing the photography pioneer out of bankruptcy in the first half of 2013. The deal for the 1,100 patents allows Kodak to fulfill a condition for securing $830 million in financing. The patent deal was reached with a consortium led by Intellectual Ventures and RPX Corp., and which includes some of the world's biggest technology companies, which will license or acquire the patents. Those companies are Adobe Systems Inc., Amazon.com Inc., Apple Inc., Facebook Inc, Fujifilm, Google Inc, Huawei Technologies Co Ltd, HTC Corp, Microsoft Corp, Research In Motion Ltd, Samsung Electronics Co Ltd and Shutterfly Inc, according to court documents.

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