Norwalk-based Xerox has reportedly agreed to purchase Kodak’s Prosper high-speed inkjet product line.
According to a report in the trade journal PrintWeek, a deal between the companies “had now been agreed” and a formal announcement is “imminent.” Kodak announced in March 2016 that was seeking to sell the Prosper line, but the sale was complicated by the line’s poor financial performance: $68 million in sales in the first three quarters of 2016, resulting in losses of $26 million. Neither company has publicly commented on the report.
If the transaction goes through, this will be the second time in four years that Xerox acquired an inkjet operation – in 2013, the company acquired the French inkjet developer Impika for an undisclosed sum. Kodak operates a manufacturing facility for its Prosper products in Kettering, Ohio.