its LED technology for use in its products

LED 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.”

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

The company also announced a technology cross-license agreement with LG Electronics, Inc. The license agreement, which provides significant benefits to both companies, is royalty-bearing to Kodak. Additional financial details were not disclosed.

We are pleased to have reached a mutually beneficial arrangement that advances the interests of Kodak and led high bay light and validates the strength of Kodak’s intellectual property portfolio,” said Laura G. Quatela, Chief Intellectual Property Officer, and Vice President, Eastman Kodak Company.