Posts tagged: document imaging

Nuance Acquires Notable Solutions (NSi)

Allison Correia
 Jul 22, 2014

Just last month talk circled of the potential acquisition of Nuance Communications, the speech and dictation recognition software company, by Samsung Electronics. As of yet nothing has come to fruition with this rumor, and now we have received confirmation (albeit a quiet announcement) that Nuance has made an acquisition of their own, of Notable Solutions, Inc. (NSi), an established global leader in secure information collection and output management solutions.

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Kodak has a NEW buyer for Document Imaging

Anne Valaitis
 May 1, 2013

Kodak to sell its Document Imaging business to U.K Kodak Pension Plan


Kodak has entered into an agreement whereby it will sell off its Document Imaging and Personalized Imaging business units to U.K Kodak Pension Plan, KPP. As part of the continued restructure to exit bankruptcy, Kodak will sell off its Document Imaging business for $650m in cash and non-cash consideration. Overall, the agreement settles approximately $2.8 billion of claims by the defined benefit (DB) pension plan against Kodak and certain of its affiliates.

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How the U.K. Pension Plan Ended Up Owning a Big Part of Kodak

Ron Gilboa
 Apr 30, 2013

Yesterday Kodak and the U.K. Based Kodak Pension Plan (KPP) made news. Resolving their financial issues was only one element but surprisingly KPP ended up owning key Kodak businesses. In its release Kodak stated the following: “Eastman Kodak Company announced a settlement agreement with the U.K. Kodak Pension Plan (KPP).” KPP is Kodak’s largest creditor with respect to its Chapter 11 Plan of Reorganization. Under the agreement, which will be filed with the U.S. Bankruptcy Court, Kodak’s Personalized Imaging and Document Imaging businesses will be spun off under new ownership to KPP.”

“The settlement agreement provides, among other things, for the spin-off of Kodak’s Personalized Imaging and Document Imaging businesses to KPP for cash and non-cash consideration of $650 million. Certain proceeds will be used to support the emergence of Kodak from Chapter 11 and the growth of its Commercial Imaging business. The agreement also settles approximately $2.8 billion of claims by KPP against Kodak and certain of its affiliates.”

“The agreement will be implemented as part of Kodak’s Chapter 11 plan in the United States. At the consummation of the spin-off, Kodak and its worldwide affiliates will be released from their obligations to KPP. The UK Pensions Regulator (“the Regulator”) has been kept fully informed of this process and the Regulator has granted clearance in respect of the acquisition. The Regulator has decided that it will approve the release of Kodak Limited, the KPP’s sponsoring employer, from its liabilities to the KPP and the UK Pension Protection Fund has confirmed that it has no objection. Closing of the transaction is subject to the approval of the U.S. Bankruptcy Court, approval by the Regulator and the satisfaction or waiver of other conditions precedent.” Read more »

Brother looks to acquire Kodak Document Imaging Division

Anne Valaitis
 Apr 23, 2013

On April 15th, it was announced that Kodak would look to sell its Document Imaging business  to Brother for $210 million dollars, this makes yet another Kodak business unit to divest as part of a bankruptcy restructure plan by the Imaging company. This announcement appears to be an opening bid for auction of the Kodak business unit. Under the terms of the agreement, Kodak will seek U.S. Bankruptcy Court approval of the bidding procedures at a hearing in late April and is targeting final court approval of a transaction in June.

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