Eastman Kodak Company has announced the sale of its image sensor solutions (ISS) business to Platinum Equity.

Included in the sale is a 263,000-square-foot facility in Rochester, New York, which houses manufacturing and research facilities, Kodak said.

Selling the ISS unit is to "sharpen Kodak's operational focus and strengthen its financial position," the company indicated. Kodak added the company will have continuing access to the image sensor technology involved in this transaction for use in its own products.

Kodak previously remarked it would sell assets that are not central to its transformation to a profitable, sustainable digital company. The sale of its ISS business is aligned with that strategy to generate cash to complete the transformation, the company noted.

Kodak's image sensors are being adopted in a broad range of demanding imaging applications, from precision manufacturing inspection to digital radiography, from earth imaging satellites to traffic monitoring, and from studio photography cameras to DNA sequencing systems.

Platinum Equity is a global private-equity firm specializing in acquiring and operating businesses.

By: DocMemory
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