Kodak Provides Update on the Sale of Its Prosper Commercial Inkjet Business
ROCHESTER, N.Y. — December 22, 2016 — Kodak has provided an update on the sale process for its Prosper commercial inkjet business.
"We anticipated an announcement of an agreement for the sale of the Prosper business by the end of 2016 and remain in talks with potential buyers. We now expect discussions to continue into 2017,” says Philip Cullimore, president, Enterprise Inkjet and Micro 3D Printing & Packaging Divisions. Details of the sale process remain confidential.
“We have been gratified by the interest in the Prosper business as well as the continuing support and loyalty of our customers,” notes Cullimore. “The Prosper business has been very strong over the first nine months of 2016 with the placement of 12 presses, more than in any comparable period. We also saw a 41% increase in annuity revenues in the third quarter, versus the same period a year earlier.”
Kodak is currently evaluating ways to streamline the Prosper press business to maximize performance and address market opportunities in publishing, high-volume direct mail and packaging. In addition, the company is planning to refocus the business to emphasize printhead components and the development of Ultrastream technology.
Kodak has made great progress during 2016 in the development of Ultrastream — the next generation of Kodak inkjet technology. “Sixteen leading printing equipment manufacturers and integrators have signed Letters of Intent to OEM products based on Ultrastream technology,” adds Cullimore.
Kodak is a technology company focused on imaging. It provides — directly and through partnerships with other innovative companies – hardware, software, consumables and services to customers in graphic arts, commercial print, publishing, packaging, electronic displays, entertainment and commercial films, and consumer products markets. With its world-class R&D capabilities, innovative solutions portfolio and highly trusted brand, Kodak is helping customers around the globe to sustainably grow their own businesses and enjoy their lives.