The Wall Street Journal reports that Apple, Google and several other competing bidders for Kodak's patents are in talks to join forces. Samsung Electronics, LG Electronics and HTC Corp are also said to be part of the cosortium that is seeking to snatch Kodak's patents.

Intellectual Ventures Management LLC, a company that specialises in buying patents and suing infringers is also part of the deal according “people with knowledge of the negotiations,” the Journal said.

If the consortium of bidders is successful the deal could stop a monopoly on Kodak's patents and, in turn, costly litigation between the companies down the line. The Journal's sources said that the cooperation was by no means certain at this point.

Kodak, which filed for bankruptcy protection in January, had said it hoped for between 2.2 billion USD to 2.6 billion USD for their patents, however the selling price is now estimated around 500 million USD.

Source: WSJ