Bankrupt Eastman Kodak to sell patents for $525 million

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Bankrupt camera maker Eastman Kodak Co agreed to sell its digital imaging patents for about $525 million to a consortium led by Intellectual Ventures and RPX Corp, a key step to ending its bankruptcy.

The photography pioneer said a portion of the payment will come from 12 intellectual property licensees organized by Intellectual Ventures and RPX Corporation.

A sale of the roughly 1,100 patents, which Kodak has said could be worth as much as $2.6 billion, has been a key element of the Rochester, New York-based company’s plans to shift its focus to commercial packaging and printing from photography.

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