Imax Buys Kodak's Patents

Tags: Wall Street - The Deal

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In a deal that will likely enhance IMAX's big-screen digital technology and expand its operations while averting the collapse of the 131-year-old Eastman Kodak Company, IMAX has agreed to pay Kodak an upfront fee believed to be in the tens of millions of dollars plus additional royalties and other payments for the use of nearly all of Kodak's 11,000 patents. In an interview with the Wall Street Journal, IMAX chief Richard Gelfond said that The Deal will now preclude the possibility of Kodak filing infringement lawsuits against IMAX for similar technology, and, at the same time, IMAX will be able to "mine" Kodak's patents. Kodak has been exiting the photography business as digital merchandise supersede its bread-and-butter products; it now plans to focus on commercial and consumer printers.

17/10/2011


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