Dec 6 A collection of bidders has offered
Eastman Kodak Co more than $500 million for some of
its digital imaging patents, the Wall Street Journal reported,
citing people familiar with the matter.
The deal was submitted in the past few weeks and has not
been finalized. The details of the bidders involved, aside from
being made up of Silicon Valley technology companies and firms
that specialize in buying patents, could not be confirmed, the
Journal said. ()
Last month the one-time photography giant said it accepted
an $830 million financing offer from a group of bondholders to
help it emerge from bankruptcy. The financing was contingent on
the sale of Kodak's digital imaging patents for at least $500
Kodak has been trying to sell its portfolio of 1,100
patents, which it valued between $2.2 billion to $2.6 billion,
for more than a year, but any sale has been hindered by
litigation over ownership of some of the patents.
The company, which had unsuccessfully tried to redefine
itself as a consumer products s eller, f iled for bankruptcy in
January, after years of falling film sales. It has said it wants
to be out of bankruptcy by early 2013.
Kodak could not be reached for comment by Reuters outside of
regular business hours.