One of the nation’s oldest film and photography companies has struggled to maintain profitability in an increasingly digital age. Having filed for Chapter 11 bankruptcy in January, Eastman Kodak has been considering several offers to help with their debt restructuring efforts, including the sale of an important patent.
Up For Grabs?
Kodak hired an investment bank back in July of last year to help them browse digital imaging patents and potential buyers for intellectual property. Having no particular bidders at the time, Kodak put the search on the back-burner as it pursue other avenues. Now that the company is in bankruptcy court, many interested parties are beginning to surface over the possible buyout of a patent deal.
The patent sale includes a portfolio of 1,100 patents that covers aspects of capturing, processing, storing, editing and sharing digital images. Hoping to close the sale by summer, it is said to be worth billions of dollars and could increase the odds that Kodak successfully exits Chapter 11. The sale could bring creditors more money by way of higher debt payments and even bring some returns to the remaining company shareholders.