Rochester, N.Y. – Bids are due Monday in Kodak’s auction of its digital imaging portfolio of patents. The company is hoping the 1,100 patents are worth more than $2 billion.
The auction is crucial to Kodak’s ability to raise enough cash to get out of bankruptcy. The Wall Street Journal reported
Apple and Google are forming a group to bid on the patents. Apple is teaming with Microsoft and Google is teaming with Samsung and other smartphone makers.
Some analysts say Kodak may not get as much money as hoped, because it recently lost a fight over an important patent with Apple. A lot of Kodak’s intellectual property is also heavily licensed. Furthermore, Kodak wasn’t able to find an early buyer for the patents.
The bids will not be made public until next week’s auction on August 8.