It was the central focus of Eastman Kodak’s bankruptcy proceedings – selling thousands of patents, which is part of a new financing arrangement.
Messenger Post newspartner News10NBC has just learned that Kodak has finalized agreements over the digital imaging patents. Kodak will receive approximately $525-million for the portfolio and certain other Kodak patents.
Under the agreement, the $525-million will be paid by Intellectual Ventures and RPX.
“This monetization of patents is another major milestone toward successful emergence,” Antonio M. Perez, Chairman and Chief Executive Officer, said. “Our progress has accelerated over the past several weeks as we prepare to emerge as a strong, sustainable company. This proposed transaction enables Kodak to repay a substantial amount of our initial DIP loan, satisfy a key condition for our new financing facility, and position our Commercial Imaging business for further growth and success.”
By selling the patents, the company says it can emerge from chapter eleven in the first half of 2013
It was the central focus of Eastman Kodak’s bankruptcy proceedings – selling thousands of patents, which is part of a new financing arrangement.
Messenger Post newspartner News10NBC has just learned that Kodak has finalized agreements over the digital imaging patents. Kodak will receive approximately $525-million for the portfolio and certain other Kodak patents.
Under the agreement, the $525-million will be paid by Intellectual Ventures and RPX.
“This monetization of patents is another major milestone toward successful emergence,” Antonio M. Perez, Chairman and Chief Executive Officer, said. “Our progress has accelerated over the past several weeks as we prepare to emerge as a strong, sustainable company. This proposed transaction enables Kodak to repay a substantial amount of our initial DIP loan, satisfy a key condition for our new financing facility, and position our Commercial Imaging business for further growth and success.”
By selling the patents, the company says it can emerge from chapter eleven in the first half of 2013
