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Apple, Google in Group Buying Kodak Patents for $525 Million

A group including Apple Inc., Google Inc. and Research In Motion Ltd. agreed to buy patents from bankrupt Eastman Kodak Co. for about $525 million, gaining the right to use the digital technology to capture and share photos.

The group is led by Intellectual Ventures Management LLC and RPX Corp., Kodak said in a statement today. Google, Apple and RIM are among the 12 companies that will license the patents in the deal, according to a court filing. Under the terms, Intellectual Ventures will split the payment with the licensees.