In an
attempt to put an end to the bankruptcy it filed earlier this year, Kodak has
sold patents worth $525 million to an assortment of bidders in order to re-enter
the imaging market. Intellectual Ventures (IV) and RPX corps, who have some of the world’s
biggest technological companies, have bid to acquire the patents. According to
court documents, some of the said companies include Adobe Systems Inc, Amazon.com Inc, Apple Inc, Facebook Inc,
Fujifilm, Google Inc, Huawei Technologies Co Ltd, HTC Corp, Microsoft Corp,
Research In Motion Ltd, Samsung Electronics Co Ltd and Shutterfly Inc.
With this step Kodak is trying to bring itself
back into the industry in early 2013, as had been was one of the major imaging
brands in the world for a long period of time before it filed for bankruptcy
earlier this year.. The said agreement is currently up for approval in the US
Bankruptcy Court in Manhattan, New York under a certain chapter 11, which gives
time to a company to rearrange its assets and liabilities. As it is still
present in the market by the virtue of some of its digital businesses, Kodak making
a comeback as a big player in the imaging market doesn’t look very far-fetched
after this deal.