Kodak’s Prosper business sale updates
Q&A with Philip Cullimore, President of Kodak’s Enterprise Inkjet Systems Division and the Micro 3D Printing & Packaging Division
What’re the updates on the Prosper sale process?
We have talked to some potential buyers. These are confidential talks so I cannot discuss any particular company’s interest in buying Prosper.
Why sell a business that’s growing and has significant market potential, according to Kodak?
The Prosper business has significant potential for accelerated growth and the market opportunity will expand even further with the introduction of Ultrastream, a next-generation inkjet writing system. To achieve its full economic potential, Prosper will need to be leveraged by a company with a larger sales and distribution footprint in digital printing markets.
The decision around Prosper is based on our scale in the inkjet market – with the investment in the core Prosper technology complete, and new and significantly larger markets opening up to us thanks to the Ultrastream breakthrough, it is time to place the technology in the hands of a company with a larger presence in digital print markets.
What kind of buyers is Kodak approaching? Is there a specific timeline?
We’re seeing interest from a number of suppliers in the industry, but a sale of this sort usually takes several months. We do not have a specific timeline.
Who are the prospective buyers?
We have received strategic interest in the Prosper business from companies and their financial representatives. These talks are confidential.
How will Kodak continue to invest in Prosper if the sale does not happen in 2016?
We anticipate the sale to take place in 2016.