Kodak has put its patent portfolio for sale, reports the Wall Street Journal, said the investment bank Lazard Ltd. has begun the purchase of the portfolio.
The story says that a potential buyer is “a big buyer, strategic in the wireless industry seeking to use the patents for defensive protection.”
The Wall Street Journal story was actually written after Kodak shares s had spiked on speculation that the company’s patent portfolio digital images could be a valuable addition to the shares of the intellectual property of Google or Apple or Microsoft, or HTC or Samsung or some other player in the mobile phone sector.
Kodak shares spiked 55 cents, or 25.7%, to $2.69 in the regular session; the stock is up another 18 cents, or 6.7%, in late trading, to $2.86.
One thing this story underlines is just what a sad shell of its former self Kodak has become: since peaking at just under $93 a share in 1997, the stock has lost 97% of its value.