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Company buying Canada’s Creo

Monday, Jan. 31, 2005 | 11:03 a.m.

ROCHESTER, N.Y. -- Eastman Kodak Co., wrapping up a $3 billion shopping spree aimed at transforming the world's biggest film manufacturer into a digital heavyweight in photography, medical imaging and commercial printing, is buying Canada's Creo Inc. for $980 million.

Kodak said today its acquisition of Vancouver-based Creo, the world's biggest maker of printer software, will modestly dilute its earnings this year but will not alter its full-year profit projections of $2.60 to $2.90 a share.

Commercial printing "represents one of the three pillars of Kodak's digitally oriented growth strategy," said Kodak's chief executive, Daniel Carp. "The purchase of Creo strengthens that pillar, and essentially concludes the company's acquisition plan."

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