Kodak To Sell Online Gallery To Shutterfly

  • March 1, 2012

Eastman Kodak Co. has agreed to sell some of the assets of the Kodak Gallery online photo services business to Shutterfly for $23.8 million. The terms of the agreement include the transfer of Gallery customer accounts and images in the U.S. and Canada to Shutterfly. The agreement comprises the initial, stalking horse bid in a court-supervised auction process under Section 363 of the U.S. Bankruptcy Code that will ensure the maximization of value for the assets.

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