Two giants Apple Inc. (NASDAQ:AAPL) and Google Inc. (NASDAQ:GOOG) would be bidding together to buy patents of Eastman Kodak Co. (PINK:EKDKQ) for $500 million or above as per the sources. Earlier in the year this two companies were competing for dominance in the Smartphone market. Both Apple Inc. (NASDAQ:AAPL) and Google Inc ( NASDAQ:GOOG) have joined hands after making attempts of unsuccessful bidding to buy Kodak’s 1100 imaging patents.
Giants joining hands to buy patents is not something which is new earlier in the past as well a group of Apple Inc. (NASDAQ:AAPL), Google Inc. (NASDAQ:GOOG), Microsoft Corporation (NASDAQ:MSFT), and Research In Motion Limited (USA) (NASDAQ:RIMM) had joined hands to buy 6,000 patents worth $4.5 billion from Nortel system corp although Google Inc. (NASDAQ:GOOG) had lost that bid. After making an initial proposal of $900 million in that case.
Apple Inc. (NASDAQ:AAPL)’s group includes the likes of Microsoft Corporation (NASDAQ:MSFT) and Intellectual Ventures Management LLC where as Google Inc. (NASDAQ:GOOG) included RPX Corporation (NASDAQ:RPXC) and other android manufacturers of Asia
Spokesman from Apple Inc. (NASDAQ:AAPL), Google Inc. (NASDAQ:GOOG), and Eastman Kodak Co. (PINK:EKDKQ) declined to comment stating that they don’t comment on market speculation.
Debtor Financing
Wall Street Journal had earlier reported that a large group had made an offer of $500 million or above for Kodak’s digital patents.
132 year old company had filed for bankruptcy protection in January where it had declared $5.1 billion as assets and balance as debts i.e $6.75 billion. Company expects to come out of bankruptcy by January’2013.
Shares of Apple Inc. (NASDAQ:AAPL) were down by 2.56% to close at $533.25, Shares of Google Inc. (NASDAQ:GOOG) were down by 1% to close at $684.21, Shares of Microsoft Corporation (NASDAQ:MSFT) were down by 1.01% to close at $26.45, and shares of RPX Corporation (NASDAQ:RPXC) were down by 4.08% to close at $9.40.
