Eastman Kodak Co., the bankrupt photography pioneer, agreed to sell some of its digital-imaging patents for about $525 million to a group led by Intellectual Ventures and RPX Corp., part of a plan to emerge from Chapter 11 as a commercial-printing company.
Under the terms of the deal, Intellectual Ventures will make a portion of the payment, with the rest coming from 12 patent licensees that it organized with RPX, Rochester, New York-based Kodak said Wednesday in a statement. The auctioned patents, which relate to the capture, manipulation and sharing of digital images, were previously estimated to be worth as much as $2.6 billion.
