To pay down its bankruptcy costs, Kodak announced Wednesday it has sold off its trove of imaging patents and among the beneficiaries are the biggest names in mobile: Apple and Google. Pooling their resources to offer $525 million, two different consortiums of buyers nabbed licenses to Kodak’s IP. Intellectual Ventures, with whom Apple and Microsoft have teamed up in the past, and the RXP, which counts Google as a client, led the bid. In all, 12 companies will receive licenses.
The other patent licensees in the deal include Samsung, HTC, Faceboook,, Amazon, Fujifilm, RIM, Huawei, Adobe, and Shutterfly.
The news of the sale was first reported by Bloomberg last week, which pegged the offer at “more than $500 million.” Previously, the digital imaging patents had been valued at $2.6 billion.
Wednesday’s announced sale also brings a bit of closure on the legal front: with it, all outstanding patent claims between the 12 licensees and Kodak are settled. That includes Apple’s dispute with Kodak over iPhone and iPad image capture.
Updated at 8:40 a.m. with additional companies named as licensees.