Kodak and LG enter into cross-license agreement

Additional financial details were not disclosed. “We are pleased to have reached a mutually beneficial arrangement that advances the interests of Kodak and LG and validates the strength of Kodak’s intellectual property portfolio,” said Laura G. Quatela, Chief Intellectual Property Officer, and Vice President, Eastman Kodak Company.

The companies also agreed to conclude their patent litigation, which involved a subset of their imaging technologies. Pursuant to a settlement agreement, Kodak and LG will request that the U.S. International Trade Commission terminate the investigations initiated earlier this year following complaints filed by both companies in late 2008.

In a separate agreement, Kodak agreed to sell substantially all of the assets of its organic light emitting diode (OLED) business to a group of LG companies.