The deal will make Kodak one of the top three suppliers in the sector, along with Hewlett-Packard and Epson-based machines.
Kodak expects the buy to contribute to its earnings from 2003.
Encad president and chief executive Terry Vandewarker said Kodak had the resources, complementary skills and market presence Encad needed to accelerate its growth.
Kodak expects the deal to be completed by early 2002. The acquisition builds on its launch of the Kodak Professional 5260 piezo ink-jet printer.
Have your say in the Printweek Poll
Related stories
Latest comments
"Excellent kit. We looked at indexing extensively years ago and at the time there were two major players in the UK.
The cap ex involved was too big a risk for us at the time so we let it go.
This looks..."
"Ricoh launches the ability to print on card, blah, blah, blah, yawn! 🥱"
"An excellent business and nice people to work with. Such a shame to see this all disappear from the UK. Wishing you both the best in your future and enjoy retirement"
Up next...
Three lots available
Six-figure stationery contract among new tenders
Increased efficiency
Welshpool Printing Group gets up to speed with Horizon install
Includes plastic-free range
UPM aims to grow sticky notes sales with new alliance
Available now in Europe