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9:19 pm
Sat December 8, 2012

Apple and Google Partner to Buy Kodak's Patents

Credit www.kodak.com

Bloomberg business news is reporting that two tech rivals will join forces to buy Kodak's digital imaging patents.

Apple and Google are reportedly offering more than $500 million for Kodak's 1,100 digital imaging patents, months after the two companies led separate campaigns to buy the patents during a bankruptcy auction this summer. Apple and Google have been indirectly involved in a bitter patent war over patents involving Apple's iPhone and phones manufactured by Samsung that use Google's Android operating system. Google closed on its purchase of Motorola in May, giving the search-giant a mobile phone patent portfolio that has kept Apple from directly suing Google. The patent sale is important for Kodak's emergence from bankruptcy. Kodak secured $830 million in financing last month, as long as it sells its digital imaging patents for at least $500 million. Find the full Bloomberg report here.