Kodak's Creo deal is complete

16 June 2005

Kodaks deal to buy Creo has been completed. The 543m ($988m) acquisition has received the final regulatory approval, from the South African authorities, which the firms needed to complete the deal.

Creo will now be integrated into Kodak's Graphic Communications Group (GCG), which consists of Encad, Kodak Polychrome Graphics, Nexpress, and Versamark.

"The inclusion of Creo - its solutions and its people - into Kodak marks another significant milestone in our journey to become the global leader in graphic communications," said GCG president James Langley.

Creo founder and chief technology officer Dan Gelbart will become a senior research fellow at Kodak and special adviser to Langley.

Israel Sandler's appointment as managing director for Europe, Africa and the Middle East region was also confirmed.

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