It’s true. Apple Inc. (NASDAQ:AAPL) is joining hands with arch rival, Google Inc (NASDAQ:GOOG), in an attempt to purchase patents from Kodak, who has been forced to sell them, due to bankruptcy.
The Wall Street Journal has cited sources that reveal the two enemies are working together, in order to further their reach in the tech sector. Even more startling than these two joining forces, are the rumors, which indicate that Samsung may also be in the loop to help acquire the patents.
Samsung Electronics Co., Ltd. (ADR) (LON:BC94) and Apple Inc. (NASDAQ:AAPL) have been involved in fierce litigation in multiple courts around the world, regarding accusations by both companies, that the other infringed on patents involving products. The cases have become quite heated at times, even to the point of one U.S. judge accusing apple attorney, Bill Lee, of smoking crack.
Kodak has released a statement that indicates they have not yet decided for sure if they wish to sell the patents. Their spokesperson said, “The company reiterates that it has not reached a determination or agreement to sell the digital imaging patent portfolio, and may retain all parts of it as a source of creditor recoveries in lieu of a sale, if it concludes that doing so is in the best interest of the estate.”
According to the Journal, Apple Inc. (NASDAQ:AAPL) and Google Inc (NASDAQ:GOOG) , who lead the group of companies interested in the patents, are willing to pay as much as $500 million for them. This would effectively make the two companies partners, and would protect them from patent infringement suits from each other. The very idea of these two rivals working together may seem ludicrous, but, it would definitely be a profitable venture for both of them.
Maybe, just maybe, these companies have seen the effects that litigation is having on their ability to present new products to the public, and they have decide that teaming up with the enemy to make profit, is better than losing profit to prove a point.