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Kodak Sells Document Imaging Business To Brother

Kodak Sells Document Imaging Business To Brother - Kodak is set to sell its Document Imaging business to Brother Industries.

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Kodak has entered into agreements to sell its Document Imaging business to Brother Industries, in the hope that it will be able to pay creditors back and emerge from bankruptcy.

Brother industries is one of the leading names in printers and fax machines. Kodak is reportedly selling the Document Imaging business to Brother for $210 million.

In buying the Document Imaging business, Brother will also inherit the deferred service revenue liability of Kodak, to the tune of $67 million. The deal is set to close in June, if the court approves it.

Kodak still hopes to emerge from bankruptcy this year, and is looking to sell other sections of its business before the second half of 2013.

(via Slash Gear)

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