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.
Kodak is also to divest its silver metal mesh touch sensor businesses following in-depth management reviews of this business operation, and that of enterprise inkjet, and discussions with customers, partners and other industry participants. These are strategic decisions for the company.
Kodak CEO Jeff Clarke described Prosper as, ‘an exceptional technology and product set’, and has identified ‘significant potential for accelerated growth’ for the Prosper business. ‘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. We will continue to invest in Prosper during the sale process.’
Philip Cullimore, president of Kodak’s Enterprise Inkjet Systems division and the Micro 3D Printing & Packaging division, added: ‘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.’
Kodak will feature live demonstrations of Ultrastream at drupa 2016.
Read a comprehensive preview of label and package printing/converting technology to see at drupa in L&L, issue 2, 2016
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