Kodak Sells Image Sensor Solutions Business to Private Equity Firm

By Ashok Bindra November 08, 2011

Photography pioneer Eastman Kodak has completed the sale of its image sensor solutions business to Platinum Equity, a private equity firm specializing in mergers, acquisitions and operations. However, financial details of the sale to Platinum Equity were not disclosed. Eastman Kodak said that the move is to sharpen the company’s operational focus and strengthen its financial position.

Meanwhile, Kodak will have continuing access to the image sensor technology involved in this transaction for use in its own products, said Kodak. According to Kodak, the company would sell assets that are not central to its transformation to a profitable, sustainable digital company. This sale is aligned with that strategy to generate cash to complete the transformation, stated Kodak.

The sale includes a 263,000 square foot facility in Eastman Business Park in Rochester, N.Y., that houses manufacturing and research facilities.

According to Kodak, the ISS business develops, manufactures, and markets the world’s highest performance solid state image sensor devices, which the company has been producing for the past 30 years. From precision manufacturing inspection to digital radiography, from earth imaging satellites to traffic monitoring, from the world’s highest performing studio photography cameras to DNA sequencing systems, these image sensors are being used in a multitude of mission-critical applications.

 “Image Sensor Solutions is a business that is well-positioned in the high-performance imaging markets in which it participates,” said Pradeep Jotwani, president, Consumer Digital Imaging Group, and senior vice president, Eastman Kodak. He added, “This sale maximizes shareholder value by obtaining a full and fair valuation for this business, and allows Kodak to increase its financial flexibility.”

Furthermore, Jotwani noted that Platinum Equity brings significant financial and operational resources to the ISS business and a comprehensive plan to ensure its continued success.

Likewise, in another statement, Brian Wall, the partner at Platinum Equity who led the team pursuing the acquisition, commented, “This is a great opportunity to acquire a business with an impressive record for delivering innovative solutions to customers around the world… The ISS business has a strong management team with the right vision for leading the company into the future. We share their commitment to product development and customer service and are committed to helping the business realize its full potential,” noted Wall.


Ashok Bindra is a veteran writer and editor with more than 25 years of editorial experience covering RF/wireless technologies, semiconductors and power electronics. To read more of his articles, please visit his columnist page.

Edited by Rich Steeves

TechZone360 Contributor

SHARE THIS ARTICLE
Related Articles

Modern Moms Shaping Influence

By: Maurice Nagle    7/19/2018

Everyone knows Mom knows best. The internet is enabling a new era in sharing, and sparking a more enlightened, communal shopping experience. Mommy blo…

Read More

Why People Don't Update Their Computers

By: Special Guest    7/13/2018

When the WannaCry ransomware attacked companies all over the world in 2017, experts soon realized it was meant to be stopped by regular updating. Even…

Read More

More Intelligence About The New Intelligence

By: Rich Tehrani    7/9/2018

TMC recently announced the launch of three new artificial intelligence events under the banner of The New Intelligence. I recently spoke with TMC's Ex…

Read More

Technology, Innovation, and Compliance: How Businesses Approach the Digital Age

By: Special Guest    6/29/2018

Organizations must align internally to achieve effective innovation. Companies should consider creating cross-functional teams or, at a minimum, incre…

Read More

Contribute Your Brain Power to The New Intelligence

By: Paula Bernier    6/28/2018

The three events that are part of The New Intelligence are all about how businesses and service providers, and their customers, can benefit from artif…

Read More