"Kodak is uniquely positioned to be the preferred partner for our customers and help them lead the transformation of the graphic communications industry," said Barbara Pellow, chief marketing officer, Kodak Graphic Communications Group (pictured).

Following the completion of the deal the firm will implement a new structure for its Graphic Communications Group (GCG).

Former KPG chief executive Jeff Jacobson will head up the Graphic Solutions & Services (GS&S) division and act as GCG chief operating officer. Nachum Shamir formerly president of Kodak Versamark becomes president of the Transactional and Industrial Solutions division.

Once the Creo acquisition is completed its operations will be included in Jacobson's GS&S division.

Creo's shareholders voted last week to accept Kodak's offer, but the deal is currently under scrutiny by the US Department of Justice, which is seeking more information as part of an informal investigation.

Story by Barney Cox