The board of Photo-Me International (PMI), Bookham, U.K., announced the company has today agreed to sell its 86 percent interest in the Swiss-based specialist in digital high-speed photofinishing systems, Imaging Solutions AG (ISAG), together with ISAG's subsidiaries, (ISAG Group), to the RB Imaging Holding GmbH. RB Imaging is company incorporated in the Canton of Zurich, Switzerland, and wholly-owned by Rainer Bauer, the sole director of RB Imaging and also CEO of ISAG, who already owns the remaining 14 percent of the company.

  According to a press release, the consideration for the proposed disposal is Euro 200,000 (£170,340/US$ 284,000) plus a contribution of £136,000 (Euro 158,000/US$ 225,000) towards the Company's costs of the proposed disposal, all payable in cash on completion. In addition, PMI will be entitled to an amount of approximately CHF 633,605 (Euro 417,000/US$ 591,000) in respect of a patent licence agreement to be entered into. The latter sum is to be set-off against a loan of the same amount owed by PMI to ISAG.

  The agreement further provides that, if the shares of ISAG or ISAG's business, or material parts thereof, are sold to a third party within one year of the date of completion, any profit derived from such sale will be shared with the PMI on a 50/50 basis, the company's share being limited to a maximum amount of euro 4.5 million (US$ 6.4 million).

  For the year ended April 30, 2008, the most recent year for which Photo-Me's audited consolidated accounts are available, the ISAG Group generated a loss before taxes of £0.9 million (Euro 1.05 million/US$ 1.49 million), comprising a pre-exceptional items loss of £0.8 million and exceptional charges of £0.1 million.

  For the six months to Oct. 31, 2008, the ISAG Group generated a loss before taxes of £1.3 million (Euro 1.51 million/US$ 2.14 million).

  On 4 June 2009, PMI had announced it had initiated discussions with interested parties with a view to a possible sale, reflecting the board's conclusion ISAG's activities were neither a core element of Photo-Me's strategy nor capable of further integration within the group. Further, the board was keen to avoid exposure to further substantial losses and a requirement to fund a capital expenditure programme to develop photo-processing equipment which uses different printing technology from silver halide, ISAG's current technology.

  PMI pointed out the company's board considered RB Imaging's offer to be the best solution for Photo-Me shareholders in view of ISAG's operational losses and the potential of a loss on disposal. The board had also evaluated the potential for closure of the ISAG Group.

  PMI said it will issue its preliminary announcement of annual results for the year ended April 30, 2009 today. The ISAG Group will be accounted for as a discontinued business in the results for the year ended April 30, 2009 and as assets and liabilities held for sale at April 30, 2009. In these results, the proposed disposal is expected to result in a write-down, totalling approximately £8 million (Euro 9.3 million/US$ 13.2 million), of ISAG Group assets. No taxation payable or receivable is expected to arise on the proposed disposal.

  The proceeds of the proposed disposal will be used to reduce Photo-Me's debt.

  The transaction is subject to the approval of PMI's shareholders. A circular is expected to be posted to Photo-Me shareholders by July 10 to convene a general meeting.

Business Journal reports a legal battle between eBay Inc. and the founders of voice-over-internet service Skype, now part of eBay, has taken a turn for the worse. As a result, a planned Skype spinoff may be delayed, and the amount Skype fetches in an IPO may be decreased.

  Skype founders Niklas Zennstrom and Janus Friis still control some of Skype's software and have accused eBay of breaching a license agreement. If Zennstrom and Friis follow through on threats to pull their technology, Skype will be disabled.

Ritz Interactive Inc., Irvine, Calif., was named to Internet Retailer's 2009 Hot 100 Best Retail Web Sites.

  The Internet Retailer's Hot 100 Web Sites offer many lessons on how to inspire, inform and serve web site shoppers, and also how to reach out beyond ecommerce sites to connect with consumers. The Hot 100 Web Sites were chosen for their innovations that go beyond the primary web site and their performance metrics, which include response time, site availability and consistency.

  According to Ritz Interactive president and CEO Fred H. Lerner, "We have a very straightforward philosophy; we present our customers with options. This stretches from payment options; whether it is credit cards, Google Checkout, PayPal or Bill Me Later, or choices in navigation methods and customer service. We're all about convenience to our customers."

Sears Holdings Corp., Hoffman Estates, Ill., is the first major retailer to launch the Open ID platform for Sears Communities, which will connect over 1 million monthly visitors via MySears and MyKmart sites to major social media.

  The OpenID universal login standard enables visitors to consolidate their Internet identity by providing them a single login for all of their online interactions. This is the first step toward enabling customers to log in to Sears communities using their social IDs rather than set up new accounts. This covers the most popular, familiar web sites such as Google, Facebook, MySpace, Yahoo! and Twitter.

  Through this new innovation, users in the Sears and Kmart communities can use the ID and password they already have to write product reviews and can share information on products, services and solutions. Future updates planned with the OpenID platform will allow users in the communities to share their posts and product reviews with friends easily via Facebook.

Vistaprint Limited, Hamilton, Bermuda, announces a full line of seasonally themed invitations to help maximize the joy of summer eventsVistaprint has fully customizable invitations to fit any celebration's theme, from flags and fireworks to flip flops and seashells. Packages start at US$7.99 for 10 invitations.

  According to a new study by Oyster Bay, N.Y.-based NextGen Research, "Green Computing: Reducing the Environmental Impact of PCs, Servers By Using Safer Materials, Slashing Power," computer and server vendors are making their products increasingly green: the newest equipment consumes less electricity than legacy hardware; toxic substances once used in their construction have been replaced with more environmentally friendly materials; and most vendors will take their products back at end of life cycle for reuse/recycling. As a result, purchases of green desktop and notebook computers and netbooks will grow from less than a sixth ($37 billion) of the $249-billion PC market in 2009, to nearly two-thirds (more than $190 billion) of the $323-billion PC market in 2013.

Despite a decrease in global demand for technology products, Canon Inc., Tokyo, Japan, expects sales of professional digital cameras to grow rapidly China this year, according to China Daily.

  Tatsuo Yoshioka, vice-president of Canon China, said its sale of SLR cameras in China is expected to increase 115 percent this year, as Chinese consumers continue to grow more interested in professional photography, China Daily reports.