HP Broadens Presence in Wide-format Printing with Acquisition of NUR Macroprinters
PALO ALTO, Calif.—Dec. 10, 2007— 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.