Kodak sells its image sensor unit

AP News
Posted: Nov 07, 2011 6:00 PM
Kodak sells its image sensor unit

Eastman Kodak Co. says it has completed the sale of an image sensor business to a private equity firm in Beverly Hills, Calif.

The photography pioneer is offloading what it calls "non-strategic assets" in a scramble to reinvent itself as a profitable player in digital imaging and printing.

Financial terms of the sale to Platinum Equity were not disclosed Monday.

But CEO Antonio Perez said last week that Kodak has already booked $120 million in asset sales this year and expects to reach $200 million by year-end.

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The business, which employs 200 people, makes solid-state image sensors for digital-imaging devices at a factory in Rochester that's included in the sale.

In April, Kodak sold 850 image-sensor patents and patent applications for $65 million to image-sensor maker OmniVision Technologies.