Kodak to Sell OLED Display Business to group of LG companies

Eastman Kodak Company announced that it will sell
substantially all the assets associated with its OLED business to a group of LG
companies. This move will tighten Kodak’s investment focus and strengthen its
financial position. Financial details were not disclosed.

Kodak has been a pioneer in developing technology associated with OLED
displays.  In the 1970s, Kodak scientists developed the world’s first
viable OLED material.

Kodak will have continuing access to its OLED technology for use in its
products. Subject to customary closing conditions, the transaction is expected
to close by the end of the year. 

“As we said earlier this year, OLED is one of the businesses we wanted to
reposition to maximize Kodak’s competitive advantage at the intersection of
materials and imaging science,” said Laura G. Quatela, Kodak’s Chief
Intellectual Property Officer and manager of the company’s OLED business. “This
action is consistent with that strategy. Our OLED intellectual property
portfolio is fundamental; however, realizing the full value of this business
would have required significant investment.”

Nomura Securities International, Inc. served as financial advisor to
Kodak.

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