EASTMAN Kodak and Wang Laboratories are in talks over a possible deal involving Wang's software business, which industry analysts said Kodak may buy for up to $300 million (£187.5 million). Company officials declined to elaborate on the talks, but analysts said Kodak wanted to buy Wang's lucrative imaging software business.
In 1995, Kodak's Business Imaging Systems unit set an alliance with Wang jointly to develop and market a set of common standards for document imaging. The products form the core of Kodak's efforts in document imaging software.
Sales of the software, which is popular with banks, financial institutions and other companies, are about $2.5 billion a year in the United States and growing, analysts said.
Imaging software allows companies to scan paper documents and put the information into their computer databases. As more companies convert old records into digital form, demand for such software is expected to grow. Wang's imaging software business had sales of about $50 million last year.
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