kodak patentsAccording to a Bloomberg report, competitors Apple and Google have come together to buy patents worth $500 mn from Eastman Kodak. Bloomberg quotes sources familiar with the deal, who said that Google and Apple could in fact offer Kodak, which filed for bankruptcy in January this year, more than the touted amount for these patents. An estimated 1100 patents are available from Kodak. Kodak held an auction for its patent in August 2012 but did not announce any winner.

The report says that both the acquiring companies “have partnered after leading two separate groups this summer to buy some of Kodak’s 1,100 imaging patents. The two groups had separately offered less than $500 million for Kodak’s portfolio. They now teamed up to offer more together”.