Apple and Google may be bidding on Kodak patents together

Apple and Google are likely to jointly bid for the patent portfolio owned by the ailing Kodak. Initially, both companies bid separately for the patents, making the partnership striking.

According to Bloomberg to have two sources familiar with the auction said Apple and Google have teamed up and are preparing a bid of more than $500 million for Kodak’s patent portfolio. The previous bidding round showed that only amounts of between $ 150 and 250 million were offered, giving the parties a good chance of getting their hands on the patents.

Apple and Google initially started with separate bids for the Kodak patents. Apple had engaged Intellectual Ventures, a company that some see as a ‘patent troll’. Google chose RPX, a company that is more reserved. It’s unclear why the companies entered into a partnership: it may be to reduce costs and ensure that the purchase of the Kodak patents does not result in infringement lawsuits.

Kodak previously filed for bankruptcy after the company could no longer pay its debts. It had been going badly for the photo company for a long time: in August last year it appeared that Kodak was considering selling its patent portfolio. Its value was initially estimated at $2.6 billion.