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Apple, Google in partnership to acquire Kodak patents
- USA: Sunday, December 09 - 2012 at 05:04
Apple Inc. and Google Inc. have teamed up to offer more than $500m to buy Eastman Kodak's patents out of bankruptcy, Bloomberg has reported, citing two people with knowledge of the situation. Competing for dominance of the smartphone market, the two companies have partnered after leading two separate consortia this summer to buy Kodak's 1,100 imaging patents, said the people. The 132-year-old photography pioneer filed for bankruptcy protection in January, listing $5.1bn in assets and $6.75bn in debt. The company plans to exit bankruptcy in the first half of 2013.
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