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Eastman Kodak Set To Sell Patents For $525 million

  • On Wednesday, Eastman Kodak announced the sale of 1,100 digital imaging patents to some of the world's biggest technology firms, including Adobe Systems Inc, Amazon.com Inc, Apple Inc, Facebook Inc, Fujifilm, Google Inc, Huawei Technologies Co Ltd, HTC Corp, Microsoft Corp, Research In Motion Ltd, Samsung Electronics Co Ltd, and Shutterfly Inc. The sale, however, did not bring the failing company the $2.6 billion it had once anticipated. Instead it brought much less, $525 million. The sales was an important one for the Rochester, New York, based company which is emerging from bankruptcy woes and is attempting to make a fresh start.