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Kodak to Sell Patent Portfolio to 12-Member Consortium Including Apple for $525 Million [iOS Blog]

In line with a report from earlier this month, Eastman Kodak today announced that it has reached a deal to sell its portfolio of digital imaging patents to a consortium of 12 companies organized by patent holding firms Intellectual Ventures and RPX Corporation for $525 million.

Under the agreements, Kodak will receive approximately $525 million, a portion of which will be paid by 12 intellectual property licensees organized by Intellectual Ventures and RPX Corporation, with each licensee receiving rights with respect to the digital imaging patent portfolio and certain other Kodak patents. Another portion will be paid by Intellectual Ventures, which is acquiring the digital imaging patent portfolio subject to these new licenses, as well as previously existing licenses.

TechCrunch cites a court filing naming the 12 members of the consortium, which includes both Apple and Google as had been previously reported.

Apple, Inc.
Research In Motion Limited
Google Inc.
Samsung Electronics Co., Ltd.
Adobe Systems Incorporated
HTC Corporation
Facebook, Inc.
Fujifilm Corporation
Huawei Technologies Co., Ltd.
Amazon Fulfillment Services, Inc.
Shutterfly, Inc.
Microsoft Corporation

The consortium approach among rivals allows the companies to prevent a bidding war and helps ensure that each of them holds licenses to the patents at defined cost, eliminating the risk of later licensing negotiations or protracted court battles.