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.
