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Google, Apple join hands to bid for Kodak patents

Associated Press
Dec 11, 2012 at 12:33pm IST

New York: Apple and Google, bitter rivals in smartphone technology, have joined up to make a combined bid for a bundle of patents offered by photography pioneer Kodak, according to a published report.

Bloomberg News reported Saturday that Apple and Google have abandoned competing bids for the portfolio to offer a combined $500 million. The sum is the minimum Kodak can sell the patents for and still get an $830 million loan that's crucial to getting the company out of bankruptcy.

ALSO SEE US court approves Kodak's bid to sell patents

Apple and Google declined to comment on the report. A Kodak representative did not immediately respond to a request for comment.

Google, Apple join hands to bid for Kodak patents

Apple and Google have abandoned competing bids for the portfolio to offer a combined $500 million for Kodak patents.

Kodak filed for Chapter 11 bankruptcy protection in January after struggling to adapt to the world of digital photography.

ALSO SEE Kodak sues Apple, claiming interference in patent sales

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