Kodak To Buy Heidelberg's Digital Business

"We are so confident in NexPress's prospects that we are willing to forego cash at closing in return for a short-term earn-out package," says Schreier.

Integration of digital printing in print shops' workflows, using Prinect, will remain part of Heidelberg's service offerings.

Kodak plans to operate the NexPress and Heidelberg Digital subsidiaries as a combined business under headed up by Venkat Purushotham, president and CEO of NexPress. He will report to Langley.