HP Acquires Scitex Vision
PALO ALTO, CA—Hewlett-Packard Co. (HP) has signed an agreement to acquire substantially all of the assets of Scitex Vision from Scitex Corp. for $230 million. The move pushes HP into the super-wide, large-format printing arena.
Scitex Vision specializes in wide- and super-wide format printers for signage and industrial applications, such as billboards, banners and street advertising. Based in Netanya, Israel, the company recorded revenue of $142 million for the year ending June 30, 2005.
The acquisition is said to complement HP's existing product portfolio of large-format printers and digital presses. HP also reaps Scitex Vision's proprietary technology for print heads.
The two companies are also well matched in areas such as ink-jet technology, services and support, and direct and indirect distribution channels and supply chain.