Kodak moves to acquire Creo

Creo is to be acquired by Eastman Kodak for approximately US$980 million.

A meeting of Creo shareholders to approve the transaction is expected to be held on March 29, 2005 and Creo's  board of directors of is recommending that shareholders vote in favour.

Commented Amos Michelson, Creo chief executive officer: 'The proposed transaction will benefit our customers through the combination of leading prepress equipment and consumables. The economy of scale gained by combining resources will allow us to speed up product development and deliver new innovations and breakthrough solutions to the market.'