Adaptive Solutions purchases Eastman Kodak's OCR technology

Adaptive Solutions (Beaverton, OR) has agreed to purchase Eastman Kodak

's (Rochester, NY) OCR technology, for approximately $1 million in stocks and cash, in addition to future royalties. The agreement gives ASI ownership of Kodak's Imagelink technology, as well as its ICR technology, which has been field-tested but not commercialized. Kodak OCR installations currently process an estimated 300 million forms per year. ASI sees the move as a chance to "jump-start" its strategic shift from a technology supplier to a provider of data entry solutions, according to ASI CEO Daniel Meub. Said Candy Obourn, president of Kodak's Business Imaging Systems division: "We are pleased to have found such a knowledgeable, dedicated organization as Adaptive Solutions to carry this product line forward."

Adaptive Solutions: http://www.asi.com
Eastman Kodak: http://www.kodak.com