Kodak continues to try to stay in business. The latest step is the sale of their image sensor business. Here's what we heard today:
Kodak announced it has completed the sale of its Image Sensor Solutions (ISS) business “in a move that will sharpen Kodak’s operational focus and strengthen its financial position.”
The ISS business develops, manufactures, and markets the high performance solid state image sensor devices.
The buyer, Platinum Equity, specializes in the merger, acquisition and operation of companies that provide services and solutions to customers in a broad range of business markets.
“This is a great opportunity to acquire a business with an impressive record for delivering innovative solutions to customers around the world,” Platinum Equity says.
Financial details were not disclosed.
Kodak will have continuing access to the image sensor technology involved in this transaction for use in its own products.
Included in the sale is a 263,000 square foot facility in Eastman Business Park in Rochester, N.Y., that houses manufacturing and research facilities.