ROCHESTER, NY-Eastman Kodak Co. announces the completion of its acquisition of OREX Computed Radiography Inc., a provider of compact, computed radiography systems for nondestructive testing facilities and specialty medical markets.
Under the agreement, Kodak paid $51.3 million in cash. Kodak anticipates that OREX will add approximately $32 million to Kodak's revenue in 2005. Kodak estimates that the acquisition will be earnings neutral in 2005 and accretive thereafter. In 2004, OREX's revenue totaled approximately $28 million. The purchase helps Kodak round out its current computed radiography product line.