Vancouver's PhotoChannel Networks Inc. (TSX-V:PN) has signed an agreement with Kodak China to provide and operate Kodak's digital image distribution network in China.
PhotoChannel's online digital media software, which is used by retailers like Wal-Mart and Costco, will serve as the backbone to the 800 Chinese Kodak Express stores that Kodak plans to open this year. PhotoChannel said its software will enable Kodak's stores to transmit digital versions of personalized photo products created in-store to Kodak's various production houses.
The agreement expands PhotoChannel's presence in five continents and will support Kodak's expansion into China.
PhotoChannel's share price range during the past week: between $3.50 and $3.71; 52-week high: $4.50; 52-week low: $2.65.