We heard a little while back that Apple had joined forces with Google and a few other companies to form an effort to purchase Kodak’s portfolio of patents following the company’s bankruptcy filing. The only thing standing in the way of the group’s effort was red tape. Thankfully, the bankruptcy court judge has now given the go-ahead to the consortium to purchase the digital image processing patents owned by the former film-making giant.
Although the final figure of $525 million was disappointing, it’s enough to ensure that the Kodak brand can survive albeit as a restructured company which no longer includes cameras. The winning group of bidders includes many tech industry heavyweights; Apple, Google, Microsoft, RIM, Fujifilm, Facebook, Shutterfly, Huawei Technologies, Adobe, Samsung plus HTC and Amazon owned units.
It will be interesting to see how Kodak reinvents itself as even filmmakers are moving away from physical film for shooting and distributing.