Kodak Sells off the Image Sensor Solutions Business

November 10th, 2011

Kodak-logo2.jpgThough Kodak has been a big name in the
photography world for as long as most of us can remember, the last
few years have been unkind to them. The company is nearing
bankruptcy and is doing everything it can to avoid it.

Kodak has just taken one more step
towards avoiding bankruptcy by selling off its sensor business to a
company called Platinum Equity. Kodak says that the new owners are
committed to making a successful company for both shareholders and
employees.

For their part, Kodak is hoping that
having some extra cash on hand will be able to get them back to
stability. “This sale maximizes shareholder value by obtaining
a full and fair valuation for this business,” says Kodak VP
Pradeep Jotwani, “and allows Kodak to increase its financial
flexibility.”

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Filled Under: Digital Camera Reviews