Olympus has announced (PDF) that it is divesting itself of its entire imaging business to a new company. Japan Industrial Partners will carry on making and selling camera equipment globally and perhaps crucially, will provide support for existing Olympus camera owners.

“NewCo will succeed and maintain the research and development functions and manufacturing functions globally as reformed under the contemplated structuring reforms to continue to offer high-quality, highly reliable products; and also continue to provide supports to the imaging solution products that have been distributed by Olympus.”

The announcement states that it is planned for a definitive agreement to be signed by 30 September 2020, with the whole deal being completed by 31 December 2020.