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Article: Kodak to pay $250 million for Scitex digital printing
- Article from:
- Deseret News (Salt Lake City)
- Article date:
- November 26, 2003
CopyrightCopyright 2003 Deseret News (Salt Lake City). Provided by ProQuest LLC. (Hide copyright information)
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ROCHESTER, N.Y. (AP) -- Eastman Kodak Co., quickly shifting its
focus away from photographic film, is delving deeper into the ink-
jet printer market by acquiring Scitex Corp.'s digital printing
division for $250 million in cash.
Scitex Digital Printing Inc., based in Dayton, Ohio, is the
world's leading supplier of high-speed, variable-data inkjet printing
systems. It mostly serves commercial and transactional printing
markets.
The agreement is subject to customary regulatory approvals. Kodak
said it expects to pay for the buyout from its cash reserves.
Scitex, which employs 733 people, recorded $157 million in sales
last year. It will add around $190 million to Kodak's revenues in its ...