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Apple-Google Team Up for $500 Million-Plus Kodak Patents Bid

Apple Inc. and Google Inc. have joined forces to offer more than $500 million to buy Eastman Kodak Co.’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.