Eastman Kodak (NYSE:KODK) today announced it has entered into a multiyear licensing agreement with Los Angeles-based JK Imaging. Though specific terms of the deal were not announced, JK Imaging will begin selling certain consumer products, including digital cameras, pocket video cameras, and portable projectors, under the Kodak brand.
The new licensing agreement with JK Imaging is in line with previously announced plans for Kodak to focus on key markets. According to Kodak's president of personalized imaging, Laura Quatela, "When we announced our plan to exit the digital camera business last year, we said we would explore licensing opportunities for the brand in this category. The JK Imaging team has global experience and expertise in the industry."
According to JK Imaging CEO Jack Atick, who is chairman of JA Capital Holdings, "With more than a century of imaging firsts, there is great significance and value in the Kodak name." The first licensed products sold by JK Imaging using the Kodak name are expected to launch in Q2 of 2013.
Tim Brugger has no position in any stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.