August 20, 2017

Kodak Looks To Sell Patents

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Kodak has announced that they are interested in selling 1,100 (10%) of their Patents. Kodak hired Investment Bank Lazard, the firm that handled the Nortel patent sale, to shop the deal. The investment community sees this as a potentially profitable move for the company, and Kodak shares soared 20% after the announcement.

Kodaks CEO Anthony Perez stated that he believes the company’s patents could be attractive to a Tablet maker (Motorola Mobility?).  It appears there is interest from a large (unnamed), strategic buyer in the wireless industry, The Wall Street Journal reported, citing an unnamed person familiar with the matter and one advising the company interested in Kodak’s patents.

Sounds like a lot of hush-hush, cloak and dagger stuff, then again it could just be a ploy to build a buzz. Whatever the case, it’s still huge news, and would be a major score for whoever picks up these Patents.

Now, Kodak already has many of the Patents licensed out to several other companies, so whoever buys them will have to deal with this, but that’s more of a positive than anything else. Kodak spokesperson, Gerald Meuchner, says that the goal is for Kodak to become a profitable, sustainable digital company, and this could be a step in the right direction.