NEW YORK, Dec 19: The US photography giant Eastman Kodak said on Wednesday it had agreed sell its digital imaging patents for $525 million to help it emerge from bankruptcy protection.

Kodak said 12 intellectual property licensees, led by Intellectual Ventures and RPX Corporation, will buy the patents. Companies participating in the consortium buying the patents include Apple, Microsoft, Google, Samsung, Adobe, Facebook, Amazon, Shutterfly, Research In Motion, Fujifilm, and Huawei Technologies, according to court documents.

“This monetisation of patents is another major milestone toward successful emergence” from bankruptcy, said Antonio Perez, Kodak’s chairman and chief executive.

“Our progress has accelerated over the past several weeks as we prepare to emerge as a strong, sustainable company.—AFP