The court overseeing Eastman Kodak’s bankruptcy proceedings has approved the company’s $525 million patent sale to a consortium of companies. The consortium, which is led by Intellectual Ventures and RPX Corp., includes Adobe, Amazon, Apple, Facebook, Fujifilm, Google, HTC, Huawei, Microsoft, Research In Motion, Samsung, and Shutterfly.
Under the terms of the agreement, Intellectual Ventures (which is itself a patent-licensing firm) and RPX gain ownership of the patents, while the other firms are all contributing licensing fees for access to the patents. The patent sale allows Kodak to move forward with its restructuring plans.
