Kodak to Sell Portion of Business to Brother Industries

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Kodak has reached a tentative agreement with Brother Industries, a company mostly known for its printers, to sell certain assets of its Document Imaging business.

\"KodakKodak’s Document Imaging business includes scanners, capture software and services for enterprises. Brother purchased the assets for approximately $210 million and will assume service revenue liability which totaled approximately $67 million as of December 21, 2012, according to Kodak.

The completion of the deal is subject to approval by the U.S. Bankruptcy court. The hearing is scheduled for late April and Kodak is hopeful to receive final approval by June, according to the company. Kodak will also receive a marketing period where the company can try to get a higher offer for the sale.

Kodak has slowly been selling off pieces of its company, and this is just the latest in the transactions. According to the company, it will continue with its sales process for its Personalized Imaging service.

Source: Kodak

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