from the January 2008 issue

HP buys NUR Macroprinters

Wide format printer maker NUR Macroprinters has been acquired by Hewlett Packard (NYSE:HPQ) for $117.5m.

Fortissimo Capital acquired 55%of NUR Macroprinters for $12m. in December 2005 when the company fell into financial difficulties and could not meet its liabilities to the banks. Fortissimo Capital's managing partner Yuval Cohen was appointed chairman of NUR. He said, "Two years ago, when Fortissimo Capital acquired control of NUR, the company was losing money and was in a precarious position. However, Fortissimo Capital recognized that Nur had the potential to build on its strong market presence, installed base and technology leadership, and infused the requisite capital to fund its growth. Together with the banks, we restructured the debt, recruited stellar management, and implemented a new strategy that resulted in an impressive improvement and growth. We believe that NUR is at a point where it requires the HP resources in order to bring its line of business to a new level."

In October, NUR signed a contract with PT Samafitro, a distributor of desktop multifunction peripherals, high-end digital color presses and wide-format production printers in Indonesia.

Reprinted from the Israel High-Tech & Investment Report January 2008

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