by Christopher Freeburn | December 10, 2012 9:57 am
Google (NASDAQ:GOOG) and Apple (NASDAQ:AAPL) are putting aside their differences over patent infringement issues to make a joint bid for 1,100 imaging technology patents held by bankrupt Kodak (PINK:EKDKQ).
Unnamed sources tell Bloomberg that the two technology titans will partner on a $500 million bid for the fallen camera and film processing giant’s portfolio of patents for capturing, adjusting and sharing digital images.
Last year, Google failed in a $900 million bid to acquire more than 6,000 patents from bankrupt Nortel Networks. The Internet search giant was beat by a group of companies that included Microsoft (NASDAQ:MSFT), Research in Motion (NASDAQ:RIMM) and Apple, which ultimately paid $4.5 billion for the Nortel patents.
By partnering with each other for the Kodak patents, Apple and Google reduce the chance of subsequent patent infringement litigation. Apple is currently suing a number of Google’s manufacturing partners — including Motorola Mobility, which Google acquired for $12.5 billion last year — over the alleged violation of its patents in Android-based mobile devices.
Kodak needs to sell its portfolio of digital patents for at least $500 million in order to emerge from bankruptcy early next year. Both Apple and Google have led previous bids for its imaging patent portfolio.
Spokespeople for both companies declined to respond to Bloomberg’s requests for comment on the report.
Shares of Apple fell fractionally, while Google shares rose fractionally in Monday morning trading.
Source URL: http://investorplace.com/2012/12/apple-google-partner-to-buy-kodak-patents/
Short URL: http://invstplc.com/1ftD6IC
Copyright ©2016 InvestorPlace Media, LLC. All rights reserved. 700 Indian Springs Drive, Lancaster, PA 17601.