Posts Tagged ‘Kodak’

Kodak may have offered to sell key parts of its document imaging unit to Brother for $ 210 million, but even that amount is just a small step on the company’s long road out of bankruptcy. The company has been looking for a sweeter deal — and it just found one by settling with its very own UK Kodak Pension Plan. The agreement offloads control of both the document and personal imaging units (read: scanners and film) in return for eliminating a hefty $ 2.8 billion in claims and receiving $ 650 million in ‘considerations’ that include cash. Kodak has already received approval from the UK’s Pension Regulator and expects to submit its plans to a US bankruptcy court on Tuesday. We’ve also confirmed with Kodak that this will supercede the Brother deal as long as it’s approved, so there shouldn’t be any legal entanglements from changing suitors. As such, Kodak is well on its way to a healthier (if much smaller) company.

[Image credit: Pittaya Sroilong, Flickr]

Filed under: Cameras, Peripherals

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Via: The Guardian, Wall Street Journal

Source: Kodak

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Kodak has actually had lots of frightening moments in its recent history, not the least of which was wondering whether or not it can sell digital imaging patents to help escape bankruptcy. It’s putting some of that injury to rest now that it has actually formally closed the lately approved sale. The $ 527 million offer shares 1,100 patents with a complex web of companies, consisting of Apple and Google, operating under alliances led by Intellectual Ventures and RPX. The buyers intend to use the patents as defenses against imaging-related suits, and they have actually accepted settle any remaining legal entanglements with Kodak at the same time. Kodak still stands to acquire the most from the offer, nonetheless: the cash helps pay back a large piece of a vital loan, and it guarantees the possible financiers that the business should leave bankruptcy by mid-2013. We still won’t get back the Kodak we as soon as understood, but the name will at least soldier on.

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JK Imaging, the opportunist upstart that just recently certified Kodak’s brand for a new line of cameras, is losing little time in exploiting its newfound brand cachet. In an interview over in China, reps for the company have actually offered the initial look of their S1 mirrorless camera– offering the tantalizing prospect of it signing up with the Micro Four Thirds ranks led by Olympus and Panasonic.

It’ll be heartwarming to see Kodak’s storied brand name continued with a contemporary slice of photographic modern technology, but let’s not forget that it will be the veneer put on the work of an otherwise unknown and unproven company. JK Imaging has promised Wi-Fi connection, a release in the 3rd quarter of this year, and a cryptic “Best Created for …

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This isn’t a big surprise, since we currently knew that expert patent buyers were circling Kodak’s wares with around half a billion dollars in their baggy wallets. However, the offer is now done, with Intellectual Ventures and RPX Firm interacting to snap up the imaging IP for $ 525 million. The previous is a representative for Apple’s interests, among others, while RPX represents Google. The good updates for Kodak is that this assists it with its bankruptcy restructuring, while concurrently putting an end to all the Apple-instigated obstruction that has so far impeded its efforts to survive.

[ Image credit: Viktor Nagornyy, Flickr ]

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After Kodak’s auction to offload 1,100 of its digital imaging patents was green-lit this summer, it appeared like Apple and Google were prepared to do battle for the products. Now, however, Bloomberg points out a pair of sources who declare that the two titans have ended their face-off and are incorporating their efforts in a $ 500 million-plus bid for the patents. All three parties are remaining peaceful in the meantime, however the step would certainly not be out of type for innovation titans when it comes to rewarding, and potentially volatile, patents. Helping Kodak recover from bankruptcy with more cash in its coffers is nice enough, but staying clear of a courtroom fight on digital pictures is exactly what sweetens the flowerpot all around.

[ Image credit: Viktor Nagornyy, Flickr ]

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