Kodak have announced that they have reached an agreement with Brother for the proposed sale of its Document Imaging division for approximately $210m.
The one-time photography giant has been selling off various sections of their vast business recently, though this sale of one of Kodak’s more familiar cornerstones will resonate further.
Kodak’s Document Imaging business provides a comprehensive portfolio of scanners, capture software and services to enterprise customers. Brother is a leading global manufacturer of laser, label and multifunction printers, as well as fax machines and sewing machines.
The agreement is expected to receive bankruptcy court approval by June, allowing Brother to take control of Kodak’s scanning hardware and software.
Kodak’s Chairman and Chief Executive Officer, Antonio M. Perez, said of the deal: “This proposed sale is another key step in Kodak’s path to emergence – it moves us closer to realizing our strategic vision for Kodak’s future.
“A sale to Brother, should they prevail, would represent an excellent outcome for Document Imaging’s customers, partners and employees.”