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Apple, Google 'preparing joint bid for Kodak patents'

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Apple and Google have joined forces to acquire Kodak's library of imaging patents, according to a report.

Bloomberg's sources claim the rival tech firms have placed a joint bid of $500 million (£311m) to secure the fallen camera giant's 1,100 patents.

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© PA Images / Andy Wong/AP

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Kodak's assets have been available since the company filed for bankruptcy in January. Both Apple and Google were originally planning separate bids, which are now said to have been abandoned.

The firm bowed out of the digital camera market the following month, and has since looked to the cinema film stock and chemicals market to remain profitable.

The move could offer both Apple and Google protection from the prevalent patent lawsuits currently blighting the industry.

Neither company has officially confirmed that a bid for Kodak's patents has been placed.

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