Kodak to Sell Prosper Enterprise Inkjet Business, Exit Silver Metal Mesh Development
ROCHESTER, N.Y. — March 16, 2016 — Eastman Kodak (NYSE: KODK) has announced strategic decisions related to its Enterprise Inkjet and silver metal mesh touch sensor businesses, following in-depth management reviews of these business operations and discussions with customers, partners and other industry participants.
Kodak Prosper Enterprise Inkjet Business
Kodak is in talks with prospective buyers about offers to purchase its Kodak Prosper enterprise inkjet business, with its highly acclaimed Prosper Press Platform, Prosper S Series Imprinting Systems and related products.
Sagent Advisors, an independent investment bank, and DC Advisory, a European corporate finance adviser, which share Daiwa Securities, a Japanese investment bank, as a common shareholder, have been engaged by Kodak to manage the sale process.
"The Prosper business has significant potential for accelerated growth," says Jeff Clarke, Kodak CEO. "To achieve its full economic potential, Prosper will be best leveraged by a company with a larger sales and distribution footprint in digital printing markets."
"We have received strategic interest in the Prosper business from companies and their financial representatives," Clarke states. "We will continue to invest in Prosper during the sale process. This is an exceptional technology and product set, highly valued by the printing industry."
Philip Cullimore, president of Kodak’s Enterprise Inkjet Systems Division and the Micro 3D Printing & Packaging Division, also notes, "The market opportunity for Prosper will expand even further with the planned introduction of Kodak UltraStream, a next-generation inkjet writing system with significantly enhanced performance. UltraStream will move production inkjet into the mainstream of commercial printing and packaging."
Kodak will feature live demonstrations of UltraStream at drupa 2016, the print industry’s largest trade show, taking place in Düsseldorf, Germany, later this year (May 31-June 10).
Silver Metal Mesh Technology
Functional 3D printing, including touch-screen sensors, is an important element of Kodak’s portfolio, and Kodak will continue to develop leading-edge technology in this segment. After advancing both silver and copper metal mesh technologies, Kodak has decided to focus on copper. "Based on feedback from industry participants, it’s clear our fully additive copper metal mesh is the winning approach in terms of overall cost, setup cost and scalability to larger screens — where we see the most significant opportunities," adds Cullimore.
Kodak will exit its position in silver metal mesh development, but will continue to make silver halide film available to touch-screen sensor manufacturers.
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.