Google/Apple teamup succeeds in purchasing Kodak patents for $525M

When we first heard about this, we were pretty surprised, but it seemed to go along with Eric Schmidt's claims that Google and Apple do actually have an "adult relationship". The rumor had it that Google and Apple had teamed up to purchase Kodak imaging patents for $500 million, and now word has it that a consortium of 12 companies that includes the two tech giants has succeeded in purchasing the patents for $525M.

The consortium includes 12 intellectual property licensees which have been organized by Intellectual Ventures and RPX Corporation. Apparently, Intellectual Ventures is working on behalf of Apple and RPX Corporation is representing Google in the deal. The ultimate price for the patents will be $525 million, and will go towards Kodak's restructuring as it goes through its bankruptcy proceedings.