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Weil Gotshal, Cooley Godward Handle GE Purchase of InVision General Electric Co.’s, GE Infrastructure unit has agreed to acquire explosive detection company, InVision Technologies in an all-cash deal valued at approximately $900 million. The deal will significantly expand GE’s security business. InVision produces explosive detection systems, using the most advanced technology. It is the leading supplier of explosive detection systems to the U.S. government for civil aviation security. GE will combine InVision with GE’s Ion Track, a narcotics and explosive detection business, to provide security systems at airports, power plants and sports arenas. GE Infrastructure specializes in finding solutions to problems industries face, including pure water and safe facilities. In-house counsel for General Electric on the deal were Scott Seeley and Cynthia Shereda. Weil, Gotshal & Manges represented General Electric. The firm’s team included partners Howard Chatzinoff, Kenneth H. Heitner, Michael K. Kam, Stanley M. Spracker and associates Jason R. Riesel, Amanda L. Cohen, Konrad Von Buchwaldt, Joseph K. Wyatt, Andrew Nelson, Adrian C. Percer and Christine L. Agnew. In-house counsel for InVision was Tram Phi. Cooley Godward provided legal counsel for InVision. The team included partners Keith A. Flaum, Robert L. Jones, Buff Miller, John F. Young and associates Kathryn Walker Hall, Francis M. Fryscak, Brian JM Quinn and Keith Bauman. Deutsche Bank Securities and Dresdner Kleinwort Wasserstein were investment advisers for InVision. The banks received legal counsel from Willkie Farr & Gallagher partner David K. Boston and associate Robert T. Langdon. Sullivan, Clifford Chance Tapped For Kodak Deal With NexPress In a deal worth up to $150 million, Eastman Kodak Co. is acquiring NexPress Solutions L.L.C. and the equity of Heidelberg Digital L.L.C. from Heidelberger Druckmaschinen AG, the world’s largest maker of offset printing machines. NexPress, a digital color printing systems company, is a 50/50 joint venture between Kodak and Heidelberg. Kodak will purchase Heidelberg’s 50 percent interest. Heidelberg Digital produces digital black and white printing systems. Kodak will not pay any cash at the present time, instead the two companies have agreed to a performance based earn out formula over the next two years. If all sales goals are met, Kodak will pay Heidelberg a maximum of $150 million. In-house counsel for Kodak on the deal was Sharon E. Underberg. Sullivan & Cromwell, counsel to Kodak, called on partners Stephen M. Kotran, Diana L. Wollman; associates Maya G. Hadjiyancheva, Richard P. Mulcahy, Ivan J. Presant, Dan Petroff, Stephen J. Giordano, Sandra Wieder Cohen, N. Elizabeth Braha and special counsel Joshua R. Bressler. In-house counsel for Heidelberger was Wirnt Galster. Clifford Chance provided legal counsel for Heidelberger. The team included partners Ronald M. Sanders, Dr. Andreas Junius, Donald G. Carden, Jeffrey A. Lieberman, David C. Djaha and associates Viqar Shariff, Pia Z. Thadhani, Richard Michalski, Alice Chung, Victoria J. Litz, Robert A. Stone and Laurie C. Nelson. All Clifford Chance lawyers are from the firm’s New York office. The deal is an example of Kodak’s strategy of diversifying its portfolio and expanding its position in the digital commercial printing industry. The company has recognized the need to move from its chemical-based photography business to the digital markets. Kodak has announced that it will cut between 12,000 and 15,000 jobs over the next three years to make the transition.

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