Kodak has agreed to sell its digital imaging portfolio to a consortium of 12 licensees for $525 million, organized by patent-holding company Intellectual Ventures and patent risk advisory firm RPX Corporation. It said it will use the proceeds from the sale to pay down bankruptcy debt - the transaction is subject to the approval of the Bankruptcy Court, as well as "certain customary conditions".
Kodak said a portion of the money will be paid by the 12 licensees, giving each licensee rights to the digital imaging patent portfolio and "certain other Kodak patents"
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