Kodak Sells Off Certain Gallery Online Photo Services Business Assets to Shutterfly
March 2, 2012 11:41 AM
comment(s) - last by
Shutterfly has agreed to purchase these assets for $23.8 million
Eastman Kodak Company
has struck a deal with Shutterfly to sell off specific assets of the KODAK Gallery online photo services business.
Shutterfly, an Internet-based personal publishing service, has agreed to purchase certain assets of the KODAK Gallery online photo services business for $23.8 million. Shutterfly will provide the stalking horse bid in a court-supervised auction process.
The agreement states that Gallery customer accounts and images are to be transferred to Shutterfly in the U.S. and Canada. However, if Kodak customers do not want to have their photos transferred to Shutterfly, they have the option to obtain their photos via free downloads or by purchasing DVDs from the KODAK Gallery.
“This sale is consistent with our objective of focusing Kodak on a core set of businesses in which we can most profitably leverage our technology and brand strengths, and provides a well-proven mechanism for ensuring that Kodak
receives maximum value
from these assets," said Pradeep Jotwani, President, Consumer Businesses and Chief Marketing Officer. “KODAK Gallery is a unique property, with more than 75 million users, and an ability to attract new members through innovative customer offerings such as its category-leading popular mobile apps.
“We appreciate the loyalty of the KODAK Gallery customers in the U.S. and Canada who have entrusted us with their photo memories. We know how much they value their photos, so we will ensure that a transition is smooth and easy for them, and that their images will be preserved and protected. We are pleased that under this stalking horse agreement with Shutterfly, our customers will continue to enjoy a rewarding on-line photo experience.”
Kodak plans to focus on destination photo solutions, home printing products and retail from now on. Currently, Kodak has 105,000 picture kiosks and claims to be the leader in retail print solutions.
Back in January 2012, Eastman Kodak Company announced that it had
filed for Chapter 11 bankruptcy protection
. It had previously stated in November 2011 that it would be unable to pay its bills at some point in 2012 unless it stumbled into some quick cash.
Since the filing, Kodak has had quite a bit of trouble. In early February, Kodak
bailed on the digital camera market
Apple made matters worse
by suing Kodak for patent infringement regarding digital cameras, printers and digital picture frames.
This article is over a month old, voting and posting comments is disabled
Could be worse
3/3/2012 4:31:22 PM
It could have been a lot worse for Kodak gallery users. Shutterfly is actually quite nice as a service, and very similar to what Kodak Gallery provided.
"Game reviewers fought each other to write the most glowing coverage possible for the powerhouse Sony, MS systems. Reviewers flipped coins to see who would review the Nintendo Wii. The losers got stuck with the job." -- Andy Marken
Apple Sues Kodak in Manhattan District Court, Takes Advantage of Film Giant's Poor Position
February 15, 2012, 12:30 PM
Quick Note: Kodak Bails on Digital Camera Market
February 9, 2012, 12:06 PM
Eastman Kodak Files for Chapter 11 Bankruptcy Protection
January 19, 2012, 9:40 AM
Report: Kodak Prepares to File Chapter 11
January 5, 2012, 10:33 AM
Kodak's Patents Maybe be Worth Five Times the Company's Market Cap.
August 17, 2011, 3:54 PM
Quick Note: Google Chromebooks Now Coming with 1TB of Google Drive Space
November 21, 2014, 1:20 PM
Xiaomi Aims to be #1 Smartphone OEM Within 10 Years, Apple Urges Caution
November 21, 2014, 9:33 AM
Quick Note: Samsung's Request to Dismiss Microsoft Lawsuit is Rejected
November 20, 2014, 12:53 PM
Amazon Offers "The Washington Post" Free for Six Months to Kindle Fire Owners
November 20, 2014, 7:41 AM
Apple Watch Screen Resolution, App Limitations are Laid Bare by Developer Kit
November 19, 2014, 11:31 PM
Apple Replaces “FREE” Label with “GET” on App Downloads in iTunes App Store
November 19, 2014, 5:38 PM
Most Popular Articles
Wal-Mart: Miss Thanksgiving, Get Xbox One + Master Chief Collection for $299
November 17, 2014, 9:40 PM
Nokia Lumia 635 LTE Windows Phone is Only $40 at Best Buy on Black Friday
November 18, 2014, 11:59 AM
Sweden Mulls Labelling "Sexist" Video Games in the Wake of Gamergate
November 17, 2014, 2:00 PM
It's Official: Twitter is Profitable "Junk"
November 16, 2014, 10:45 PM
Austrian Pilots Call Surface 3 Pro Flight Bag a "Dream Come True"
November 14, 2014, 2:00 PM
Latest Blog Posts
Costco Gives Employees Thanksgiving Off; Wal-Mart Leads "Black Thursday" Charge
Oct 29, 2014, 9:57 PM
"Bear Selfies" Fad Could Turn Deadly, Warn Nevada Wildlife Officials
Oct 28, 2014, 12:00 PM
The Surface Mini That Was Never Released Gets "Hands On" Treatment
Sep 26, 2014, 8:22 AM
ISIS Imposes Ban on Teaching Evolution in Iraq
Sep 17, 2014, 5:22 PM
Space Terrorism is a Looming Threat For the United States
Apr 23, 2014, 7:47 PM
More Blog Posts
Copyright 2014 DailyTech LLC. -
Terms, Conditions & Privacy Information