Kodak granted right to sell imaging patentsJanuary 12, 2013 - 11:26 AMT PanARMENIAN.Net - Kodak has been granted the right to sell its 1,100 imaging patents to a consortium of 12 leading tech companies for $525 million, Digital Spy reported. A group including Apple, Samsung, Facebook, Google and Microsoft will acquire the licenses from the fallen camera giant after US bankruptcy judge Allan Gropper approved the sale. However, the deal sees cash-strapped Kodak receive only a quarter of the estimated $2-2.5 billion the patents were initially valued at. Gropper said that he was "disappointed" with the final amount but remained upbeat about the photography firm's plight. "We're moving the case forward so we should be optimistic," Bloomberg quotes the judge as saying. Kodak bowed out of the digital camera market a year ago, and has since looked to the cinema film stock and chemicals market to remain profitable. The company will use the money for the patent sale to repay some of the estimated $665 million it owes to the financial firms that have helped keep it afloat. Top stories Yerevan will host the 2024 edition of the World Congress On Information Technology (WCIT). Rustam Badasyan said due to the lack of such regulation, the state budget is deprived of VAT revenues. Krisp’s smart noise suppression tech silences ambient sounds and isolates your voice for calls. Gurgen Khachatryan claimed that the "illegalities have been taking place in 2020." Partner news Most popular in the section | Kazakhstan welcomes Yerevan, Baku’s agreement to meet in Almaty Kassym-Jomart Tokayev has welcomed the agreement of Baku and Yerevan to hold negotiations in Almaty. Armenia offers to temporarily host, preserve Gaza manuscripts The Armenian Foreign Minister has said Yerevan is ready to help preserve manuscripts from the conflict zone in Gaza. Aliyev says no need for mediators in Armenia-Azerbaijan process Azerbaijani President Ilham Aliyev believes that Baku and Yerevan do not mediators in the process of normalizing relations. Aram I supports Karekin II’s “patriotic position” Catholicos of the Great House of Cilicia Aram I has expressed support for the Mother See of Holy Etchmiadzin. |