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Monday, 10 December 2012

Apple and Google are teaming approximately to bid $500M for Kodak patents.

In business, your enemy today could be your friend tomorrow, if both of you can work out a mutually beneficial deal. In line with this specific, Google and Apple — supposedly arch-rivals inside mobile operating system field — are teaming approximately to secure a big patent account that Kodak is setting available.

Kodak which is filing for bankruptcy.Kodak had been hoping to fetch at the very least $2. 6 billion from its patent auction, although it did not get the sufficient bids during its first require proposals. What had been interesting to remember was that rival companies were being trying to come together so as to bring down the asking cost of Kodak.

Kodak puts the price of its portfolio higher. But if companies were to come together, then they will use a better negotiating position, which will now bring the price down.

Now Google and Apple are reported to have combined their efforts in order to make a $500 million bid for the patent portfolio. There is for now no official confirmation from either firm, although sources have actually documented conflicting news. sources reported that Google and also Apple are each forming their own consortiums to rival each other’s estimates. But now, a different group of sources cited by Bloomberg say both the Internet and tech giants are teaming up.

The patent business is a lucrative one, with firms having the ability to get hefty licensing fees from competitors applying their technologies. Kodak is hoping it could possibly get enough cash to make it get by its financial difficulties, while Google and Apple wants to use these imaging technologies of their devices and license these out there to competitors. As such, keeping the price just possible would be in the top interest of both.

Companies have discovered from their past mistake connected with over-bidding on patents, such as the $4. 5 billion acquisition of Nortel Networks’ patents by way of group led by Apple and also Microsoft.


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