Print Professional is now Print+Promo. What's the Difference?
Follow us on
Login with
Advertisement
 

Kodak Completes $527 Million Transaction Related to Digital Imaging Patents

February 5, 2013

Rochester, New York-based Eastman Kodak Company has completed a transaction for the sale and licensing of its digital imaging patents for net proceeds of $527 million.

The transaction, which achieves one of Kodak’s key restructuring objectives, follows other recent major accomplishments that include final Court approval last week for the company’s interim and exit financing. Kodak’s monetization of IP assets further builds on its momentum toward emergence in mid-2013.

A portion of the $527 million was paid by 12 intellectual property licensees organized by Intellectual Ventures and RPX Corporation. Another portion was paid by Intellectual Ventures, which acquired a substantial majority of the digital imaging patent portfolio subject to these new licenses, as well as previously existing licenses.

“The licensing and sale of our digital imaging patents is another major milestone toward successful emergence,” said Antonio M. Perez, chairman and chief executive officer. “We are on track to emerge as a profitable, sustainable company.”

The completion of the sale enables Kodak to repay a substantial amount of its initial DIP loan, satisfy a key condition for its newly approved financing facility, and position its core Commercial Imaging business for future growth and success.

Kodak retains significant competitive advantages and strong growth prospects in its core Commercial Imaging businesses. In addition to retaining rights to use the 1,100 digital imaging patents sold in the transaction, Kodak maintains ownership of about 9,600 patents, including many focused on its core business.

The transaction includes an agreement to settle current patent-related litigation between the participants and Kodak, which avoids additional litigation costs and helps to ensure that management and the company’s resources focus on enhancing core operations.

For more information, visit www.kodak.com.


 

Companies Mentioned:

MORE ON BUSINESS MANAGEMENT >>

FROM THE BOOKSTORE

Learn the approaches the industry leaders use to find and keep the best employees in sales, production, managerial, and support staff — practical, proven solutions, with real-world examples, thought-provoking exercises, and probing employment interview questions. With an extensive list of resources that will help printers find, hire, and manage human resources, including industry events and seminars, Internet job boards, and professional search firms, legal resources, trade publications, and trade associations, Hiring and Managing meets the unique needs of the industry as it shifts from ink-on-paper to a greater focus on providing service to the customer. Hiring & Managing for the 21st Century Print Shop

Learn the approaches the industry leaders use to find and keep the best employees in sales, production, managerial, and support staff — practical, proven solutions, with real-world examples, thought-provoking exercises, and probing employment interview questions. With an extensive list of resources that will help printers find, hire, and manage human...

ORDER NOW

Graphic arts supervisors face a vast array of managerial issues every day. Beyond its look at the traits, roles, and dilemmas faced by supervisors, this primer offers ways for production supervisors to become better at their jobs and help upper management enhance the roles of their supervisors. Frontline Supervision Primer

Graphic arts supervisors face a vast array of managerial issues every day. Beyond its look at the traits, roles, and dilemmas faced by supervisors, this primer offers ways for production supervisors to become better at their jobs and help upper management enhance the roles of their supervisors....

ORDER NOW

 

MORE ON INDUSTRY NEWS >>

 

COMMENTS

Click here to leave a comment...
Comment *
Most Recent Comments:

SUBSCRIBE TO PI Weekly

Receive our FREE Weekly
e-newsletter:
     Privacy Policy
 

PRINT+PROMO MAGAZINE:

Get Your FREE Subscription to Print+Promo:
Print+Promo June 2015
     Privacy Policy