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Kodak, NEC announce cross-license agreement

The deal will benefit both companies significantly, but details are scarce

Imaging vendor Eastman Kodak said Monday that it has formed a license agreement with NEC that will allow each company to access the other's patent portfolio.

"We are pleased to have reached a mutually beneficial arrangement that advances the interests of Kodak and of NEC," Laura G. Quatela , vice president and chief intellectual property officer at Kodak, in a statement.

The deal "provides significant benefits to both companies" and will generate royalties for Kodak. No further financial details were provided.

A Kodak spokesman declined to comment beyond the press release. An NEC spokeswoman did not immediately respond to a request for comment.

NEC is well-known for its networking, server and storage offerings, but also sells monitors, projectors and digital cinema products, which may be the focus of the new patent agreement with Kodak.