Kodak has struggled to keep its head above water and now it’s about to sell the business that made the company a household name. Kodak announced recently that it plans to sell its “personalized imaging” and “document imaging” film businesses.
“We have to make tough choices to build our future and this is one of those choices,” Kodak chief executive officer Antonio Perez said recently. Perez didn’t say how much the company hoped to make from the sale of its film business. The company is also trying to sell off a large patent portfolio and the most recent reports suggest that Google, Apple and Microsoft are interested in bidding on the intellectual property together. Kodak originally hoped to make more than $2.2 billion off of the patents but the first bids were just a fraction of that (around $250 million), The Wall Street Journal said.
[via The Wall Street Journal]