UPDATE 3-Kodak in $525 mln patent deal, eyes bankruptcy end

Wed Dec 19, 2012 2:00pm EST
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* Kodak selling 1,100 patents for $525 mln

* Deal key to loan package and emerging from bankruptcy

* Company still must sell two business units

By Tom Hals

Dec 19 (Reuters) - Eastman Kodak Co agreed to sell its digital imaging patents for about $525 million, a key step to bringing the photography pioneer out of bankruptcy in the first half of 2013.

The deal for the 1,100 patents allows Kodak to fulfill a condition for securing $830 million in financing.

The patent deal was reached with a consortium led by Intellectual Ventures and RPX Corp, and which includes some of the world's biggest technology companies, which will license or acquire the patents.

Those companies are Adobe Systems Inc, Amazon.com Inc, Apple Inc, Facebook Inc, Fujifilm, Google Inc, Huawei Technologies Co Ltd, HTC Corp, Microsoft Corp, Research In Motion Ltd, Samsung Electronics Co Ltd and Shutterfly Inc, according to court documents.

Kodak still must sell its personalized and document-imaging businesses as part of the financing package, and also has to resolve its UK pension obligation.   Continued...