Kodak has been selling off its patents since filing for bankruptcy in January. Now, a new report indicates that Apple and Google have joined forces to place a $500 million bid for Kodak’s valuable patent portfolio.
Apple Inc. and Google Inc. have joined forces to offer more than $500 million to buy Eastman Kodak Co.’s patents out of bankruptcy, said people familiar with the situation.
The two companies, competing for dominance of the smartphone market, have partnered after leading two separate groups this summer to buy some of Kodak’s 1,100 imaging patents, said the people, who asked not to be identified because the process is private.
The news mirrors a similar report that we published back in August, which suggested that Apple, Google, and Samsung might triple-team to bid for Kodak’s array of photography-related patents. However, Bloomberg’s recent report doesn’t cite the South Korean manufacturer, and notes that only Apple and Google have joined forces to make the bid.
In a world where Apple and Google are often perceived as enemies, it would certainly be interesting to see the two companies come together in order to secure this patent portfolio. If any more news hits the Web, we’ll let you know.