Kodak agrees £322m sale of patents to secure funding

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Eastman Kodak agreed to sell its digital imaging patents for about $525m (£322m), 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 fulfil a condition for securing $830m (£510m) 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.

 

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