Apple and Google teamed to offer more than $500 million to buy Kodak’s imaging patents, Bloomberg reported late last week.
With their leading smartphone operating systems, iOS and Android, the two companies have dominant positions in mobile imaging, and doubtless would rather not face patent infringement claims from any potential rival buying Kodak’s intellectual property.
It’s not an uncommon move: Apple worked with Microsoft and Research in Motion to acquire 6,000 patents for $4.5 billion from bankrupt Nortel Networks last year.
Kodak, in the midst of bankruptcy and reorganization, seeks to sell 1,100 imaging patents.
Kodak has claimed the patents may be worth more than $2 billion, but others counter the patents are already too widely licensed to be of much further value.