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Kodak Agrees to Purchase Imaging Unit

August 25, 2004|From Bloomberg News

Eastman Kodak Co., the world's largest photography company, agreed to buy National Semiconductor Corp.'s imaging business to expand Kodak's line of sensors for products such as camera phones.

Terms of the deal were not disclosed.

The transaction will be completed in the next few weeks, the companies said.

Kodak, based in Rochester, N.Y., said it would open an office in Sunnyvale, Calif., and hire about 50 of National's employees.

National Semiconductor's business that makes image-sensing chips will become part of Kodak's group that designs sensors for professional and industrial customers.

The deal will help Kodak as it tries to boost sales of parts for electronics items such as digital cameras.

Chief Executive Daniel Carp has been making acquisitions to add digital products and services as sales of consumer film decline.

Kodak stock fell 32 cents to $29.62 on the New York Stock Exchange. Shares of National Semiconductor fell 34 cents to $13.84, also on the NYSE.

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