Kodak  has completed the sale and licensing of digital imaging patents for $US527 million.

The transaction, which achieves one of Kodak’s key restructuring objectives, follows recent Court approval for the company’s interim and exit financing. Kodak says the return on its IP assets further builds on its momentum towards emergence in mid-2013.

“The licensing and sale of our digital imaging patents is another major milestone toward successful emergence,” Antonio M. Perez, Chairman and Chief Executive Officer, said. “We are on track to emerge as a profitable, sustainable company.”

In addition to retaining rights to use the 1,100 digital imaging patents sold in the transaction, Kodak maintains ownership of about 9,600 patents, including many focused on its core business.

The transaction includes an agreement to settle current patent-related litigation with Apple, Fujifilm, HTC, RIM, Samsung and Kodak.