LAC Group To Acquire PRO-TEK Busine

LAC Group has agreed to acquire from Kodak substantially all of the assets of PRO-TEK, the company's film preservation business specializing in archival storage, film inspection and repair, and library services for high-value moving image and still photography produced by the entertainment industry.

As a leader in information and knowledge management, LAC Group will integrate PRO-TEK's unique value proposition as a film and data storage provider into the company's vision of end-to-end information and physical media asset offerings.

We are looking forward to welcoming PRO-TEK to the LAC family, said Deborah Schwarz, LAC's Chief Executive Officer. Preservation of moving image and still photography content is a vital issue for the entertainment industry, as well as for corporations, government agencies and the professional services industry.

Kodak is very pleased to put PRO-TEK in the hands of an industry leader like LAC that will continue to provide a high level of service to our customers, said Andrew R. Evenski, President of Kodak's Entertainment Imaging business. Kodak will continue to focus on producing motion picture film - the best archival capture medium available.

LAC's Executive Vice President of Corporate Strategy and Development, Tyler Leshney, added, Our investment in PRO-TEK - in addition to LAC's other physical storage solutions - will enable better support for the whole value chain of image preservation.

Founded in 1986 as Library Associates, Inc., LAC Group serves a variety of markets including government agencies, law firms, university libraries and Fortune 500 companies. LAC also manages a large archive of entertainment, broadcast, media and news libraries so it is well positioned to pursue further opportunities to extend the PRO-TEK brand and service offering into adjacent markets and territories.

LAC Group intends to continue to use and build the PRO-TEK brand for its physical asset storage and archival solution offering. PRO-TEK also offers value-added archival services such as image scanning, inspection, metadata creation and critical archival managed services that complement LAC's core portfolio.

Rick Utley, PRO-TEK Vice President and General Manager, and 21 full-time PRO-TEK employees will continue with the business under LAC's ownership.

Superior asset management is absolutely critical - especially for an industry that generates such high value assets, said Rob Corrao, LAC's Chief Operating Officer. We all look forward to continuing to serve the customers of PRO-TEK, who can be assured that their assets are as safe and stable as they always have been.

The transaction is expected to close within the next few weeks, subject to satisfaction of customary closing conditions.

ABOUT LAC GROUP

LAC Group has been helping its clients enact best practices and solve library and archival challenges since 1987. From information sciences staffing to metadata creation, consulting, spend management and physical media storage, LAC has a complete suite of solutions designed to help maximize the utility of real-time and archival information. A certified woman-owned business, LAC continues to be the trusted choice of major studios, broadcasters, government agencies, Fortune 500 companies and universities seeking to manage the ever-increasing challenges of information and knowledge management. Follow LAC Group on Twitter, Facebook, Instagram, Google+ and LinkedIn.

Note: PRO-TEK is a trademark of Eastman Kodak Company.

ABOUT KODAK'S ENTERTAINMENT IMAGING BUSINESS

Kodak's Entertainment Imaging business is the world leader in providing motion picture film and imaging products, services, and technology for the professional motion picture and exhibition industries. For more information, visit http://www.kodak.com/go/motion. Follow us on Facebook facebook.com/KodakMotionPictureFilm, Twitter @Kodak_ShootFilm , and YouTube youtube.com/KodakShootFilm .

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