Eastman Kodak Company is trying to come out of its bankruptcy phase. It’s been a month that the corporation filed for bankruptcy. The next step by Kodak is that the organization is planning to discard some of its digital assets to Shutterfly, a personal photo publishing corporation. Kodak has hence sold of its Kodak Gallery.
Shutterfly, on the other hand, has made an official announcement about accepting the proposal by a court supervised auction procedure and has hence purchased Kodak Gallery for $23.8 million.
“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,” Kodak CMO Pradeep Jotwani said in a statement.
The Shutterfly deal will come to a closure in the spring.
About Kodak Gallery
Kodak Gallery is an online junction where users can share, upload, and also print their Kodak moments. The service is exclusively offered to the customers in the U.S. and Canada.
