Kodak has many times in its past was wondering whether or not to sell digital imaging patents in order to prevent bankruptcy. It is putting some of that trauma to rest now that it has officially closed the recently approved sale. The $527 million deal shares 1,100 patents with Apple, Google and many other tech organizations, operating under alliances led by Intellectual Ventures and RPX.
The buyers intend to use the patents as defenses against imaging-related lawsuits, and they have agreed to settle any remaining legal entanglements with Kodak in the process. Kodak still stands to gain the most from the deal, however: the cash helps repay a large chunk of a key loan, and it reassures the potential financiers that the company needs to leave bankruptcy by mid-2013. We still won’t get back the Kodak we once knew, but the name will at least soldier on.