Kodak Enters Into Patent Cross-License Agreement with Nokia

Eastman Kodak Company (NYSE:EK) today announced that it entered into a patent license agreement earlier this month with Nokia Corporation that will allow each company access to the other’s intellectual property portfolio.

The license agreement, which provides significant benefits to both companies, is royalty bearing to Kodak. Additional financial terms were not disclosed.

“We are pleased to have reached a mutually beneficial arrangement that advances the interests of Kodak and Nokia and validates the strength of Kodak’s intellectual property portfolio,” said Laura G. Quatela, Chief Intellectual Property Officer, and Vice President, Eastman Kodak Company. “We look forward to continued collaboration with Nokia.”