Kodak has finally announced its acquisition of Wang?s software business for $260 million.
The acquisition makes Kodak the largest workflow, imaging and document management supplier in the world. Wang will focus on its outsourcing, integration and service business.
Wang software will operate as an independent Kodak subsidiary and will retain its 700-strong staff, products, technology, R&D, and sales and marketing operation, said Kodak. It will report to Kodak?s business imaging systems arm.
Kodak and Wang had been in talks since October and had been on the verge of announcing a deal three times. Lately confirmation had been delayed because Kodak wanted assurances that Wang?s relationship with Microsoft would remain. Microsoft owns 10 per cent of Wang software, while Wang is a Microsoft Authorised Support Centre partner. Michael Brown, Microsoft?s chief financial officer is a Wang board member.
George Fisher, Kodak chief executive said: ?This acquisition represents an important strategic fit with Kodak?s overall imaging business. Managing vital documents and business processes is important across all Kodak businesses.?
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