Apr 7, 2017
After more than a year of public statements that Kodak’s Enterprise Inkjet division was for sale, the company has decided to keep it. According to the press release there was “strong interest” and they had “multiple offers” but Kodak concluded that these “did not reflect the value of the business.” And so they will keep it and reclassify it under continuing operations (it had been switched to “discontinued”). Randy Vandagriff has been named the new President of the Enterprise Inkjet Division. Phil Cullimore, the previous division head, is leaving Kodak.
Last May in the months after Kodak’s decision to sell the division I wrote:
Kodak Chief Executive Officer Jeffrey Clarke suggested that a company with a larger sales and distribution footprint in digital printing markets would be better suited to help Prosper achieve its economic potential.
Now the decision is being positioned as a “pragmatic decision” based on improvements in the business (balanced with the scale of the offers received). In other words, no one came up with a good enough offer. Clarke said that the Prosper group performed well in 2016 with a 40% increase in annuity sales and that expectations were high for this year. He’s also optimistic about the division’s next-generation UltraStream technology, which he expects will go to market in 2019. In related UltraStream news Kodak said that it will begin delivering evaluation kits to a total of 17 companies, including Fuji Kikai, GOSS China, Matti, Mitsubishi Heavy Industries Printing & Packaging Machinery, and Uteco. The companies will use the kit to explore the integration of the technology into future printing solutions.