- January 31, 2005, pffc-online.com
ROCHESTER, NY—Eastman Kodak has entered into a definitive agreement to acquire Creo, Vancouver, Canada, a supplier of prepress systems for commercial printers. Kodak will pay approximately $980 million in cash ($16.50 per share) for all the outstanding shares of Creo on a fully diluted basis.
For 2006, Kodak expects that Creo will add at least five cents to per-share operational earnings, as well as approximately $700 million of incremental revenue from Creo, whose sales in the 2004 fiscal year totaled $636 million and whose gross margins exceed 40%.
The conference call detailing the acquisition held January 31, 2005, will be archived and available via webcast at kodak.com/go/invest.