One of the rather interesting features of the modern technology arena is that even when two companies are fierce rivals, they may join hands when the need be. So seems to be the case for Apple and Google, both of which have now joined hands to put forth a joint bid for the acquisition of Kodak’s patents.
The joint venture has been forced, in part, by Kodak’s decision to sell its patents for a price higher than was bid by both Apple and Google. Kodak intends to sell its patents at a price which would enable the company to avoid bankruptcy and trim itself down to a viable business.
So far, both Apple and Google had placed their bids between $150 million and $250 million. However, that has proved inadequate for Kodak. So the duo is now joining hands to place a bid worth more than $500 million in order to acquire the 1,000 imaging patents.
However, even after joining hands, the two companies will have to be a tad bit flexible to lure Kodak. After all, it had earlier been revealed that Kodak values its patents at nearly $2.6 billion and intends to sell the current portfolio for $950 million.
The company is looking for such high prices in order to help it pay off its debts and stay afloat. Google and Apple, on the other hand, wish to acquire the patents to help them secure their digital imaging technologies. With this joint venture, we can hope that the two companies won’t launch legal wars against each other, at least not on matters of digital imaging.