HP Broadens Presence in Wide-format Printing with Acquisition of NUR Macroprinters Ltd.
HP today announced that it has signed a definitive agreement to acquire NUR Macroprinters Ltd. (NURMF.PK), a manufacturer of industrial wide-format digital inkjet printers.
Based in Lod, Israel, NUR is a leading supplier of UV-curable and solvent inkjet printers for display graphics, serving commercial printing companies, sign printers, screen printers, billboard and media companies, photo labs and digital print service providers.
The acquisition expands HP’s Graphic Arts portfolio of digital presses and wide-format printers and furthers HP’s Print 2.0 strategy to digitize analog prints by extending the company’s overall digital content creation and publishing platform. With the acquisition, HP will be able to offer additional midrange UV platforms and technologies.
“This acquisition marks another milestone in HP’s growth strategy to ignite the transition from converting analog pages to digital pages,” said Vyomesh Joshi, executive vice president, Imaging and Printing Group, HP. “The large-format print service provider market is growing rapidly, and with the acquisition of NUR, HP is strategically building an even stronger portfolio of products and will continue to drive innovation and growth with our industrial wide-format printers.”
“The combination of HP and NUR will provide our customers and channel partners with a vastly expanded mix of quality and service that is unmatched in the digital graphics printing industry,” said David Reis, chief executive officer, NUR Macroprinters Ltd.
HP’s acquisition of NUR is another step in HP’s Graphic Arts strategy to broaden the portfolio of digital presses and wide-format printers. In September 2007, HP announced the acquisition of MacDermid ColorSpan Inc., a manufacturer of wide-format digital inkjet printers and a key supplier to sign shop franchises, quick printers and other small to midsize sign-making and screen-printing businesses.
HP will be acquiring substantially all the assets of NUR for $117.5 million. Of this amount, $14.5 million will be held in an indemnity escrow account.
The acquisition is subject to customary closing conditions. Upon completion of the deal, NUR will be integrated into HP’s Large Format Printing Business within the company’s Imaging and Printing Group.
NUR is a leading supplier of industrial wide-format inkjet production printers for the printing industry. It designs, develops, manufactures, markets, services and supports wide-format inkjet production printers and high-quality companion inks that address the full spectrum of wide-format printing applications. Continuing a tradition of pioneering in UV inkjet printing, NUR’s offering of both flatbed and roll-to-roll UV inkjet printers breaks new ground in the industrial wide-format printing market.
Customers in a broad range of countries utilize NUR systems to produce a vast and innovative range of out-of-home advertising materials, including point-of-purchase displays, billboards, banners, building wraps and vehicle graphics.
HP focuses on simplifying technology experiences for all of its customers – from individual consumers to the largest businesses. With a portfolio that spans printing, personal computing, software, services and IT infrastructure, HP is among the world’s largest IT companies, with revenue totaling $104.3 billion for the four fiscal quarters ended Oct. 31, 2007. More information about HP (NYSE: HPQ) is available at http://www.hp.com.
This news release contains forward-looking statements that involve risks, uncertainties and assumptions. If such risks or uncertainties materialize or such assumptions prove incorrect, the results of HP and its consolidated subsidiaries could differ materially from those expressed or implied by such forward-looking statements and assumptions. All statements other than statements of historical fact are statements that could be deemed forward-looking statements, including the expected benefits and costs of the transaction; management plans relating to the transaction; the expected timing of the completion of the transaction; any statements of expectation or belief; and any statements of assumptions underlying any of the foregoing. Risks, uncertainties and assumptions include the possibility that expected benefits may not materialize as expected; risks related to the timing or ultimate completion of the transaction; and other risks that are described in HP’s Quarterly Report on Form 10-Q for the fiscal quarter ended July 31, 2007 and HP’s other filings with the Securities and Exchange Commission, including but not limited to HP’s Annual Report on Form 10-K for the fiscal year ended Oct. 31, 2006. HP assumes no obligation and does not intend to update these forward-looking statements.
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