Apple And Google To Team Up To Acquire Kodak S Patents With 500M Bid

According to Bloomberg, Apple and Google are teaming up on a $500 million bid to acquire Kodak’s patent portfolio.

Prior to this new bid, several reports had claimed that Apple and Google were leading separate groups of several companies that wanted to acquire Kodak’s patents. Kodak’s patents have become available for acquisition following the company’s move into bankruptcy earlier this year.

Bloomberg‘s report also notes that Apple’s previous consortium of potential bidders, prior to this new bid with Google, included Microsoft and Intellectual Ventures Management. Google’s competing group of bidders included RPX (one of Google’s Asia-based Android device manufactures).

Notably, Kodak was reportedly interested in selling 10% of its patent portfolio in the summer of 2011 (prior to declaring bankruptcy). These were photo-viewing patents covered in Kodak’s 2010 patent lawsuit against Apple. Interestingly, earlier this year, Apple prepared to countersue Kodak over patents.