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KODAK SELLS TSS STAKE TO IBM

Eastman Kodak Co has sold its minority stake in systems integrator Technology Service Solutions to IBM Corp, which already held the remaining portion of the business. TSS, based in Wayne, Pennsylvania, began as a joint venture between IBM and Kodak in 1994 and boasts roughly 6,500 employees. IBM has always been the majority owner of the business, which now becomes part of Big Blue’s $10.4bn Product Support Services group. Financial terms of the transaction were not disclosed. The sale comes as Kodak – which on Tuesday announced a massive restructuring to cut costs – tries to divest itself of all non-core businesses.

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