The deal is still awaiting the approval of the competition authorities in the United States and South Africa, although Kodak is confident that it will be finalised this summer.
The news comes hot on the heels of the announcement that Kodak GCG's European operations will be headed up by Creo veteran Israel Sandler.
Have your say in the Printweek Poll
Related stories
Latest comments
"This is a repeat of what happened to 1066 Capital t/a Crystal a year ago. They also never put this company in administration.
We are all still left unable to claim the redundancy and notice pay owed..."
"Totally agree"
"Best wishes to everyone involved. Nice to have a good story to read in Printweek."
Up next...

Short-grain 48pp Lithoman still in situ
Walstead closes York, but still hopes for reprisal

No power or software needed
Tech-ni-Fold innovates with new web creaser

Start-up starts printing
Wolf & Flower blossoms following first Mimaki install

Revoria PC1120 installed