Google and Apple are Both Hungry for Bankrupt Kodak's Treasure Trove of Patents

by Knowlton Thomas | Apple

Eastman Kodak is planning to auction 1,100 digital patents. Apparently some eager companies just can't wait to scoop them up: the now bankrupt company has already received two bids from investor groups including Apple and Google. They bids are reportedly between $150 million and $250 million, according to the Wall Street Journal.

Kodak believes its full war chest of patents could be worth up to $2.6-billion. That money is needed in order to repay creditors. The company filed for Chapter 11 protection in January.

While initial bids are low, they're apt to rise very quickly in bankrupt auctions, particularly for patents. Nortel Networks last year sold its patent portfolio for $4.5-billion after initial bids came in at less than $1 billion.

Kodak’s auction is slated to begin this morning.

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Google's mission is to organize the world's information and make it universally accessible and useful. As a first step to fulfilling that mission, Google's founders Larry Page and Sergey Brin developed a new approach to online search that took root in a Stanford University dorm room and quickly spread to information seekers around the globe. Google is now widely recognized as the world's... more

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Knowlton Thomas

Knowlton Thomas

Knowlton is the managing editor of Techvibes and author of Tempest Bound. Based in Vancouver, Knowlton has been published in national publications and has also appeared on television and radio. Previously he was an editor for New Westminster weekly The Other Press and served on its board of directors. When not working, Knowlton enjoys hiking, tennis, and martial arts. more

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