Feeds

Hard-up Kodak stalls crown jewels sell-off to milk bidders

1,100 patents going for a mere few billion dollars

The essential guide to IT transformation

Kodak, the poor-as-a-church-mouse photo biz, has decided to keep its patent auction fundraiser going for a while as it chats up bidders.

The firm, which filed for bankruptcy protection in January, is selling off its portfolio of digital imaging technology, containing some 1,100 patents, to pay off its creditors and reinvent itself as a printer company. Bidders include tech giants Apple, Google and Microsoft, who are reportedly in the running to snap up the arsenal of intellectual property.

In a statement, Kodak said the auction was ongoing but wouldn't give any further details because the negotiations are confidential. The firm was scheduled to announced the winning bidder on Monday, well before a bankruptcy court hearing on 20 August.

Kodak reckons it can bag between $2.2bn and $2.6bn from the flogging its silverware, although it's rumoured that Apple, Microsoft and Google started off their negotiations with lowball offers.

The hard-up company hopes to be out of bankruptcy by early next year, and needs the money to make that happen.

As well as focusing in on its printing business, Kodak said in a filing with the Securities and Exchange Commission yesterday that it wants to expand its presence in the industrial packaging industry. ®

5 things you didn’t know about cloud backup

More from The Register

next story
True fact: 1 in 4 Brits are now TERRORISTS
YouGov poll reveals terrible truth about the enemy within
Microsoft exits climate denier lobby group
ALEC will have to do without Redmond, it seems
Caught red-handed: UK cops, PCSOs, specials behaving badly… on social media
No Mr Fuzz, don't ask a crime victim to be your pal on Facebook
Barnes & Noble: Swallow a Samsung Nook tablet, please ... pretty please
Novelslab finally on sale with ($199 - $20) price tag
Ballmer leaves Microsoft board to spend more time with his b-balls
From Clippy to Clippers: Hi, I see you're running an NBA team now ...
Video of US journalist 'beheading' pulled from social media
Yanked footage featured British-accented attacker and US journo James Foley
Assange™: Hey world, I'M STILL HERE, ignore that Snowden guy
Press conference: ME ME ME ME ME ME ME (cont'd pg 94)
Call of Duty daddy considers launching own movie studio
Activision Blizzard might like quality control of a CoD film
prev story

Whitepapers

Implementing global e-invoicing with guaranteed legal certainty
Explaining the role local tax compliance plays in successful supply chain management and e-business and how leading global brands are addressing this.
7 Elements of Radically Simple OS Migration
Avoid the typical headaches of OS migration during your next project by learning about 7 elements of radically simple OS migration.
BYOD's dark side: Data protection
An endpoint data protection solution that adds value to the user and the organization so it can protect itself from data loss as well as leverage corporate data.
Consolidation: The Foundation for IT Business Transformation
In this whitepaper learn how effective consolidation of IT and business resources can enable multiple, meaningful business benefits.
High Performance for All
While HPC is not new, it has traditionally been seen as a specialist area – is it now geared up to meet more mainstream requirements?