HP buys Scitex super-wide printer ops for $230m
It’s a Vision Thing
Posted in PC Builder, 12th August 2005 10:28 GMT
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HP is moving into super-wide format printers by buying the business of Scitex Vision for $230m cash. The acquisition gives HP a leg-up in the world of billboards, banners street advertising and sundry visual pollution of public spaces, where Scitex Vision is the market leader.
Scitex Vision is owned by the Israeli printer giant, Scitex. It turned over $142m for the year to June end, 2005.
HP says Scitex Vision’s proprietary technology for print heads will give it competitive advantage. And there are synergies – usually a synonym for job cuts – to be had in the supply chain and sales channels. Digital printing for super-wide formats is growing fast – it should double its 17 per cent share of the market within five years, according to HP.
The deal should close within 90 days. ®
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