Apple, Google lead consortium to purchase Kodak's patent portfolioBy Shawn Knight
Apple and Google, described by some as bitter rivals in the mobile handset race, have reportedly joined forces in an effort to purchase a patent portfolio being auctioned off by bankrupt Eastman Kodak. Previous reports had pinned Apple and Google working together on a deal but now the Wall Street Journal claims that Samsung and LG are also part of the consortium interested in Kodak's patent auction.
The duo allegedly planned to offer between $150 million to $250 million for the patents but just last week, Kodak said they were delaying the announcement of who won the auction. The company even told CNET that they might not sell the patents at all. The photography legend had initially hoped to haul in around $2 billion for the digital imaging patent portfolio.
The Journal is now reporting that the consortium is prepared to offer more than $500 million to Kodak for the portfolio. A sale would mean that each company would have joint ownership of the patents and eliminate the threat of lawsuits over their use from other members.
This would be good news for all parties involved as Samsung and Apple have been going head to head in courtrooms across the world for some time now and Google is no stranger to lawsuits against their Android operating system. Even Kodak would be relieved of legal duties seeing as they sued Apple over a patent ownership agreement earlier this year.