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Kodak sells $525M patent portfolio to consortiums led by Apple & Google

post #1 of 30
Thread Starter 
Kodak on Wednesday announced it has sold its collection of digital imaging patents for $525 million to two groups led separately by Apple and Google.

A total of 12 intellectual property licensees including Apple and Google were organized by Intellectual Ventures and RPX Corporation. Per the terms of the deal, each licensee will receive rights with respect to Kodak's digital imaging patent portfolio and other intellectual property.

Apple and Microsoft backed the Intellectual Ventures bid, while RPX Corporation had the support of Google, LG and HTC. Other licensees included in the final deal are Samsung, Facebook, Adobe, and Amazon.

Kodak


The transaction is one of the key measures in Kodak's restructuring as the company emerges from Chapter 11 bankruptcy. Kodak now expects to successfully emerge in the first half of 2013.

"This monetization of patents is another major milestone toward successful emergence,? said Kodak Chief Executive Antonio M. Perez. "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."

The final sale price is much lower than the $2.6 billion Kodak initially expected to receive for its patent portfolio. Initial bids were said to be worth less than $250 million.

Kodak's $793 million loan package required the company fetch at least $500 million for its patent portfolio. The company was granted an extension < ahref="http://appleinsider.com/articles/12/11/14/apple-google-remain-in-talks-to-buy-kodak-patents">this fall to work out a deal that would meet those terms after Kodak had trouble finalizing deals with a large number of hopeful buyers.

Kodak plans to emerge from bankruptcy with a new look that will limit its presence in the consumer business, instead focusing on commercial imaging.
post #2 of 30
SNAP!... (that was a polaroid camera taking a picture)

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post #3 of 30
The patent trolls have pushed the industry into these sorts of consortia. It's just a big game of keep-away.
post #4 of 30
Quote:
Originally Posted by Rot'nApple View Post

SNAP!... (that was a polaroid camera taking a picture)

Of course you know Kodak had absolutely nothing to do with Polaroid...?

OMG here we go again...
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OMG here we go again...
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post #5 of 30
Quote:
Originally Posted by TheBum View Post

The patent trolls have pushed the industry into these sorts of consortia. It's just a big game of keep-away.

 

Bingo. Spot on.

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post #6 of 30
This might be a stupid comment.. but it drives me insane. Saying $525M means 525,000. Not million. The correct use of the roman numeral would be $525MM.

...sorry.. I'm a banker.. this drives me insane.
post #7 of 30
Quote:
Originally Posted by BuzDots View Post

Quote:
Originally Posted by Rot'nApple View Post

SNAP!... (that was a polaroid camera taking a picture)
Of course you know Kodak had absolutely nothing to do with Polaroid...?

Nothing except the 1985 patent lawsuit which drove Kodak out of the instant camera business.
post #8 of 30

Nice to see them playing nice.

post #9 of 30
Quote:
Originally Posted by MacVertigo View Post

This might be a stupid comment.. but it drives me insane. Saying $525M means 525,000. Not million. The correct use of the roman numeral would be $525MM.

...sorry.. I'm a banker.. this drives me insane.

Except that to the average person it means Million.  The number is not written in Roman Numerals, why should the suffix be in that system?

post #10 of 30

Good for Kodak.  

I wish them well.

post #11 of 30
Quote:
Originally Posted by AppleSauce007 View Post

Good for Kodak.  
I wish them well.

They are done. Time told.1wink.gif
post #12 of 30
Quote:
Originally Posted by MacVertigo View Post

This might be a stupid comment.. but it drives me insane. Saying $525M means 525,000. Not million. The correct use of the roman numeral would be $525MM.
...sorry.. I'm a banker.. this drives me insane.

Ha... it's not a roman numeral. It's just an abbreviation of "million". 

post #13 of 30
Originally Posted by MacVertigo View Post
This might be a stupid comment.. but it drives me insane. Saying $525M means 525,000. Not million. The correct use of the roman numeral would be $525MM.
...sorry.. I'm a banker.. this drives me insane.

 

What drives me insane is that bankers think "M" means "thousand" when in every other modern numerical use it means million. When I see "MM", I think trillion, unless it's in movie credits.


Originally Posted by earthtoandy View Post
Ha... it's not a roman numeral. It's just an abbreviation of "million". 

 

Why, when 'million' only has one M? 

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post #14 of 30

So does this deal mean BOTH buying groups are licensed for ALL the patents, or does the Apple group get some patents and the Google group gets others?

post #15 of 30
Quote:
Originally Posted by MacVertigo View Post

This might be a stupid comment.. but it drives me insane. Saying $525M means 525,000. Not million. The correct use of the roman numeral would be $525MM.
...sorry.. I'm a banker.. this drives me insane.

$525 M means $525 million and you know it does. There is not other context to assume anything else. What drives you insane is that you want all things to be the same everywhere. Do you get upset when someone says that salt on ice melts it? Of course not, you're a banker but even if you understood chemistry it would be silly to take offense to the difference between dissolving v. melting outside of the proper, pedantic use of the term where it actually makes a difference.

Quote:
Originally Posted by Tallest Skil View Post

Quote:
Originally Posted by MacVertigo 
The correct use of the roman numeral would be $525MM.
Why, when 'million' only has one M?

1) The Latin mille means thousand and since thousand times thousand equal a million it could be have been brought about as a simple shorthand.

2) I've never once heard that the M is a reference to the Roman numeral. I was taught it was an abbreviation for the Latin-based word for 1000, as previously mentioned. Doesn't it seem odd that banking, of all professions, would intermingle Arabic and Roman numbers together? Mixing Arabic numbers with the abbreviations of words makes sense, but not appending a Roman numeral at the end. I wonder what other Roman numerals get pasted on the back of Arabic numerals.
Edited by SolipsismX - 12/19/12 at 5:49pm

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post #16 of 30
Originally Posted by SolipsismX View Post
1) The Latin mille means thousand and since thousand times thousand equal a million it could be have been brought about a simple shorthand.
2) I've heard once heard that the M is a reference to the Roman numeral. I was taught it was an abbreviation for the Latin-based word for 1000, as previously mentioned. Doesn't it seem odd that banking, of all professions, would intermingle Arabic and Roman numbers together? Mixing Arabic numbers with the abbreviations of words makes sense, but not appending a Roman numeral at the end. I wonder what other Roman numerals get pasted on the back of Arabic numerals.

 

That make sense; I definitely get how the single M comes from the roman numeral, and that'd be fine… if the other numbers were also roman numerals.

 

Also, if it's based on the roman numeral, MM is 2,000, not million. So "525 2,000". Or, "525 2,000s" (525 two thousands), meaning 1,050,000.

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post #17 of 30

You should receive the $64k prize from Ai. (K=kilo)

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post #18 of 30
Quote:
Originally Posted by MacVertigo View Post

This might be a stupid comment.. but it drives me insane. Saying $525M means 525,000. Not million. The correct use of the roman numeral would be $525MM.
...sorry.. I'm a banker.. this drives me insane.

And so it transpires that the global economic collapse was due to bankers having no understanding of basic mathematical/scientific notation.
post #19 of 30
Quote:
Originally Posted by city View Post

You should receive the $64k prize from Ai. (K=kilo)

According to Wikipedia 'K' means 151 or 250 in Roman numerals.
Edited by SolipsismX - 12/19/12 at 1:19pm

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post #20 of 30
Quote:
Originally Posted by MacVertigo View Post

This might be a stupid comment.. but it drives me insane. Saying $525M means 525,000. Not million. The correct use of the roman numeral would be $525MM.
...sorry.. I'm a banker.. this drives me insane.

 

You need to relax.

 

M is "mega" in SI lingo.

MM is the financial abbreviation, meaning 1000x1000.

 

This is a monetary figure of $525,000,000, so from a financial context, MM is correct, but as previously mentioned, saying $525M is not incorrect, just a different unit for the same thing. :)

post #21 of 30
With Kodak killing off its digital and film businesses and selling off all its patents what exactly are they going to do in the consumer space? Open a chain of restaurants?

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     197619842013  

     Where were you when the hammer flew?  

 

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post #22 of 30
Originally Posted by 1984 View Post
With Kodak killing off its digital and film businesses and selling off all its patents what exactly are they going to do in the consumer space? Open a chain of restaurants?

 

Indeed, a successful chain that will revolutionize our outlook on food by showcasing a particular bear meat in various forms as its front-running menu items.

 

"That's Kodiak."

 

Shh.

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post #23 of 30
Quote:
Originally Posted by MacVertigo View Post

I'm a banker.. 

From Wikitionary: "banker" is a "stone bench on which a mason cuts or squares his work". Banker is a broad term!

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post #24 of 30
$525M is $525 Million.

525M is 525 Thousand.

I've worked in the printing industry my entire life and I can tell you that a banker should know the difference.
post #25 of 30
Quote:
Originally Posted by MacVertigo View Post

This might be a stupid comment.. but it drives me insane. Saying $525M means 525,000. Not million. The correct use of the roman numeral would be $525MM.
...sorry.. I'm a banker.. this drives me insane.

 

Actually wouldn't it be $DXXVMM?

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post #26 of 30
Quote:
Originally Posted by hill60 View Post

Actually wouldn't it be $DXXVMM?

In Roman numerals I don't think that's how it will go because the two 'M's at the end are not going to be multiplied by each other and the DXXV.

An M with a line over it would have represented one million, but the internet tells me that was only in medieval times, and an ((I)) would be 1,000, (((I))) would be 10,000, (((((I))))) would be 1,000,000 until you get to (((((((I))))))) for 100,000,000 in the original script.

But how to write 525 million? Would it be (((((((DXXV)))))))?

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post #27 of 30
That's certainly not their core business, paying for something.
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post #28 of 30
I am so sad this has happened to Kodak I am a big Apple fan, but Kodak has been a huge supporter of RIT and the School of Imaging Arts for years and it's just too bad. And too bad for the city of Rochester, my home for 6 years and all of their employees.
post #29 of 30

Let's just hope that this allows Apple to get back into the camera market and compete against the Samsung Galaxy camera.

It's a nice camera but I just couldn't bring myself to buy a Samsung product.

Steve Jobs said that it was one of the areas he wanted to get into.

post #30 of 30
Originally Posted by Evilution View Post
Let's just hope that this allows Apple to get back into the camera market and compete against the Samsung Galaxy camera.

It's a nice camera but I just couldn't bring myself to buy a Samsung product.

Steve Jobs said that it was one of the areas he wanted to get into.

 

Why would they waste their time on a QuickTake mark 2?

 

Buy Lytro, put light field cameras in all of their existing products instead of making a standalone camera that no one wants to carry around, and actually innovate in the camera space.

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