Bankrupt camera maker Eastman Kodak Co agreed to sell its digital imaging patents for about $525 million to a consortium led by Intellectual Ventures and RPX Corp, a key step to ending its bankruptcy.The photography pioneer said a portion of the payment will come from 12 intellectual property licensees organized by Intellectual Ventures and RPX Corporation.A sale of the roughly 1,100 patents, which Kodak has said could be worth as much as $2.6 billion, has been a key element of the Rochester, New York-based company's plans to shift its focus to commercial packaging and printing from photography.The agreements are subject to approval by the U.S. Bankruptcy Court in Manhattan.
RPX Corporation (RPX) provides patent risk management solutions, offering defensive buying, acquisition syndication, patent intelligence and advisory services. Shares of RPXC remained unchanged at $8.93. In the past year, the shares have traded as low as $8.55 and as high as $20.38. On average, 240945 shares of RPXC exchange hands on a given day and today's volume is recorded at 13700.
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