Apple Inc. (AAPL) and Google Inc. have joined forces to offer
more than $500 million to buy Eastman Kodak Co. (EKDKQ)’s patents out of bankruptcy, said people
familiar with the situation.
The two
companies, competing for dominance of the smartphone market, have partnered
after leading two separate groups this summer to buy some of Kodak’s 1,100
imaging patents, said the people, who asked not to be identified because the
process is private.
