Georgia-based Scitex Vision America Inc., which was named 2004 Israeli company of the year by the American-Israel Chamber of Commerce, Southeast Region, is to be acquired by Hewlett-Packard Co.
HP announced on Aug. 11 that it signed a $230 million agreement to acquire all assets of Scitex Vision, a Netanya, Israel-based digital printing company with American headquarters in Marietta.
Scitex Vision makes wide and super-wide format printers for signage and industrial applications, including billboards, banners, street advertising and packaging. The company has subsidiaries in the United States, Belgium, China, Mexico and South Africa and presence in 75 other countries.
The acquisition adds to HP’s existing large-format printers and digital printing presses, providing Scitex Vision’s proprietary technology for print heads. Following completion of the acquisition, Scitex Vision’s business will be integrated into HP’s Imaging and Printing Group.
The transaction is expected to be completed within approximately 90 days.
Scitex Vision is majority-owned by Scitex Corporation Ltd. Revenues for Scitex Vision’s four most recent fiscal quarters ending June 30 totaled $142 million.
HP is a global technology solutions provider with revenues of $83.3 billion during the four fiscal quarters ending April 30.
For more information, visit www.scitexvision.com or www.hp.com.