Brother Industries of Japan has jumped out of the block as a potential new owner for the Kodak Document Imaging business, but the final sale will not proceed until at least June and in the meantime other companies can beat the Japanese multinationals' offer of around $US210 million

As this is a part of Kodak's Chapter 11 process, an auction is expected to happen over the next 45 days with Brother Industries' offer being the first bid on the table.  

At the conclusion of this auction, the identity of the final and successful bid will be revealed as the new owners of Kodak Document Imaging.  The company says that meanwhile it remains business as usual as it has been over the last year and a half.

“This proposed sale is another key step in Kodak’s path to emergence – it moves us closer to realizing our strategic vision for Kodak’s future,” said Antonio M. Perez, Chairman and Chief Executive Officer. “A sale to Brother, should they prevail, would represent an excellent outcome for Document Imaging’s customers, partners and employees.”

“Document Imaging has many differentiating strengths, including an outstanding global customer base, award-winning software and hardware solutions, strategic reseller partners and a comprehensive service and support network,” Perez said.

Dolores Kruchten, President of Document Imaging, said that Kodak will work throughout the sale process to ensure a smooth transition for customers.

“We are pleased that under this agreement with Brother, Document Imaging will continue to strengthen its position as a leader of information capture and management solutions for enterprise customers,” said Kruchten.