Brother Industries Signs Agreement To Purchase The Document Imaging Business Of Eastman Kodak

Brother Industries Signs Agreement To Purchase The Document Imaging Business 
Of Eastman Kodak 
NAGOYA, Japan, April 15, 2013 /CNW/ - Brother Industries, Ltd. ("Brother" or 
the "Company") today announced that it has entered into an agreement with 
Eastman Kodak Company ("Kodak") to acquire certain assets of Kodak's Document 
Imaging business ("DI").  The agreement is the initial stalking horse bid 
under Section 363 of the U.S. Bankruptcy Code, to be followed by an orderly 
auction process under certain procedures set forth in the agreement.(1) Under 
the agreement, Brother would acquire these assets for approximately USD 210 
million in cash subject to certain price adjustments, plus the assumption of 
specified liabilities. Brother will assume the specified assets and 
liabilities of DI, which include approximately USD 67 million(2) deferred 
revenue liabilities associated with customer prepayments. If Brother is 
selected as the successful bidder at the auction, or if no qualified competing 
bids are timely submitted, and subject to court and other regulatory 
approvals, the Company expects to complete the acquisition in the third 
quarter of 2013. 
"We believe that Kodak Document Imaging is an asset that will help to 
strengthen Brother's global position in document imaging solutions and enable 
us to provide an enhanced product and service offering to an expanded universe 
of customers," said Toshikazu Koike, Representative Director and President of 
Brother Industries, Ltd. "Kodak Document Imaging has a long history of 
innovation in the scanning and document field and is a natural fit for 
Brother." 
Rationale for the transaction With global sales, Kodak's Document Imaging 
business is a complement to Brother's existing lineup which includes Brother 
Multi-Function Center® all-in-ones and Brother ImageCenter™ scanners. 
Brother will acquire those assets and personnel required for the continued 
operation of DI.  This addition, which includes Document Scanners, Image 
Capture Software and Technical Services, will allow Brother to offer a more 
robust portfolio of document scanning hardware, services and solutions to 
small, medium and large businesses, positioning the Company to take full 
advantage of the evolving office solution marketplace. 
Brother is being advised by UBS Investment Bank as its financial advisors and 
Baker Botts L.L.P. as its legal counsel. 
Acquisition Process and Timeline Kodak and its U.S. subsidiaries filed for 
reorganization under chapter 11 in the U.S. Bankruptcy Court for the Southern 
District of New York on January 19, 2012.   Kodak's non-U.S. subsidiaries are 
not in bankruptcy.  The transaction requires approval from U.S. bankruptcy 
court and is subject to a competitive bidding process under Section 363. The 
transaction is also subject to regulatory approvals and other customary 
closing conditions. 
About Brother Founded in 1908, Brother has become a leading global 
manufacturer of laser printers, label printers, Multi-Function Center®, fax 
machines, P-touch electronic labelers, typewriters and sewing machines. 
Brother manufactures innovative, reliable and practical products for home and 
office use, while maintaining high customer satisfaction and following 
comprehensive measures for environmental conservation.  For more information 
visit www.brother.com. 
(1) Under Section 363, the Court supervises an orderly auction process during 
which any other potential bidders may submit a bid. After the specified period 
is closed the Court approves the winning bid. 
(2) As of December 2012 
U.S. Media Inquiries: Stephen Gilmore, MSLGroup, 1 -646-500-7732, 
Stephen.gilmore@mslgroup.com, or European Media Inquiries: Merran Wrigley, 
MSLGroup, 44 (0)2078783149, merran.wrigley@mslgroup.com 
http://www.brother.com 
SOURCE: Brother Industries, Ltd. 
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CO: Brother Industries, Ltd.
NI: CPR ELE MNA  
-0- Apr/15/2013 12:45 GMT
 
 
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