Kodak to license laser projection patents to Imax

Oct 17, 2011 By BREE FOWLER , AP Business Writer

(AP) -- Eastman Kodak Co. said Sunday that it will license thousands of patents to Imax in a deal that will supply the troubled photography company with millions of dollars.

A person familiar with the agreement, but not authorized to speak with the media, said the initial deal is worth tens of millions of dollars. The agreement includes additional payments if certain milestones are met, along with patent royalties, the person said.

Rochester, N.Y.-based Kodak has struggled in recent years as consumers shifted to digital cameras and away from traditional film. Investor fears about its finances sent its shares tumbling earlier this month, after the company hired Jones Day, one of the country's top bankruptcy and restructuring law firms, as an advisor.

The 131-year-old company, which is credited with turning picture-taking into a hobby for the masses, insisted then that it had no intention of filing for .

Under the agreement announced Sunday, Imax Co. will have exclusive use of Kodak's technology. The Kodak patents will allow Imax to provide high-quality digital content for theater screens larger than 80 feet and domed theaters for the first time. Screens that large had previously been limited to film content, the companies said.

IMAX said it expects to introduce the new laser-projection technology by the second half of 2013.

The agreement covers about 100 patents related to laser protection technology, along with certain rights to about 10,000 of Kodak's 11,000 total patents, said the person familiar with the deal,

The company has used its patents as a way to raise cash before. Since 2008, it's raised nearly $2 billion in licensing fees, and is hoping to sell another 1,100 digital-imaging patents. Some analysts have said that portfolio of patents could fetch $3 billion for Kodak.

After four years of losses, Kodak has said that it expects to return to profitability next year on the strength of deep investments in digital inkjet printers.

Explore further: Ex-Apple chief plans mobile phone for India

not rated yet
add to favorites email to friend print save as pdf

Related Stories

Samsung pays in dispute over Kodak camera patents

Dec 23, 2009

(AP) -- Eastman Kodak Co. said Wednesday that Samsung Electronics Co. has agreed to pay the camera maker an undisclosed sum as the two sides try to settle a dispute over patents used in Samsung's camera phones.

Kodak, Samsung agree on licensing pact

Jan 11, 2010

(AP) -- Eastman Kodak Co. said Monday it will draw royalties from South Korea's Samsung Electronics Co. under a licensing pact that gives the companies access to each other's digital-imaging patents.

Kodak wins round in patent dispute with Apple

May 13, 2011

(AP) -- Shares of Eastman Kodak Co. shot higher Friday after a judge at the U.S. International Trade Commission rejected Apple Inc.'s digital-camera patent claims against the photography pioneer.

Delay in Kodak patent case against Apple, RIM

Jun 23, 2011

(AP) -- The U.S. International Trade Commission is postponing its ruling on photography pioneer Eastman Kodak's patent dispute with tech giants Apple and Research in Motion.

Recommended for you

Ex-Apple chief plans mobile phone for India

16 hours ago

Former Apple chief executive John Sculley, whose marketing skills helped bring the personal computer to desktops worldwide, says he plans to launch a mobile phone in India to exploit its still largely untapped ...

Airbnb rental site raises $450 mn

Apr 19, 2014

Online lodging listings website Airbnb inked a $450 million funding deal with investors led by TPG, a source close to the matter said Friday.

US venture investments highest since 2001 (Update)

Apr 18, 2014

Funding for U.S. startup companies soared 57 percent in the first quarter to a level not seen since 2001, as venture capitalists piled more money into a growing number of deals, according to a report due out Friday.

User comments : 0

More news stories

Ex-Apple chief plans mobile phone for India

Former Apple chief executive John Sculley, whose marketing skills helped bring the personal computer to desktops worldwide, says he plans to launch a mobile phone in India to exploit its still largely untapped ...

A homemade solar lamp for developing countries

(Phys.org) —The solar lamp developed by the start-up LEDsafari is a more effective, safer, and less expensive form of illumination than the traditional oil lamp currently used by more than one billion people ...

NASA's space station Robonaut finally getting legs

Robonaut, the first out-of-this-world humanoid, is finally getting its space legs. For three years, Robonaut has had to manage from the waist up. This new pair of legs means the experimental robot—now stuck ...