Kodak sells off OLED business
Kodak has settled a patent litigation suit with Korean company LG.
And, in a separate statement, Kodak said it is selling all the assets of its OLED business to a group of LG companies, although financial terms were not disclosed.
Kodak will still, however, have access to OLED technology - it signed a cross license agreement with LG Electronics - allowing each to have broad access to the other's patent portfolio.
That license agreement will yield royalties to Kodak, again the company will not say what financial terms have been agreed.
The patent litigation, involving some Kodak imaging technologies, is now done and dusted, and both LG and Kodak will ask the US International Trade Commission to terminate investigations it started earlier this year.
In a statement, Laura Quatela, who manages the company's OLED business and is also its intellectual property officer, said: "OLED is one of the businesses we wanted to reposition to maximize Kodak's competitive advantage. This action is consistent with that strategy. Our OLED intellectual property portfolio is fundamental; however realizing the full value of this business would have required significant investment."