Eastman Kodak Co has decided it made a mistake in going into the floppy disk media business by buying Verbatim Corp – for $175m five years ago and agreed to sell the company to Mitsubishi Corp’s Mitsubishi Kasei Corp for an estimated $190m to $200m. The digital tape business is included in the sale, but Kodak is hanging on to Verbatim’s small-format optical disk and its other tape businesses. No word on the 12Mb floppy drive.
