Kodak to Sell 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.”