In the video below, Motley Fool analyst Lyons George talks about how two of the world's biggest tech companies, Apple (NASDAQ:AAPL) and Google (NASDAQ:GOOGL), are joining hands in an effort to put together a bid to acquire Eastman Kodak's patent portfolio.
Kodak is going through a rough patch as it is coming out of a bankruptcy and Apple and Google together are offering over $500 million for Kodak's roughly 1,100 patents, the majority of which are related to image capturing, image manipulation, and sharing. The primary intention behind joining hands is to minimize future infringement litigation.
This past summer, both Apple and Google had attempted to acquire this portfolio independently. Apple-Microsoft (NASDAQ:MSFT) and Google-Samsung placed separate bids, but none of the bids could match up to the current offer.
Lyons George has no positions in the stocks mentioned above. The Motley Fool owns shares of Apple, Google, and Microsoft. Motley Fool newsletter services recommend Apple, Google, and Microsoft. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.