from the May 2008 issue

HP seeks growth engines in Israel

HP seeks growth engines in Israel Hewlett Packard Co. (NYSE:HPQ) announced the establishment of an International Technology District, through which the company will support high-tech Israeli companies with potential in fields where HP has relevant technology infrastructures. The ITD will be managed from Israel and the company predicts that it will handle 300 Israeli companies within two years.

HP has been one of the most active international high-tech companies in Israel in recent years. Its biggest acquisition was HP-Mercury Interactive 18 months ago for $4.5 billion, and it has acquired three Israeli printer manufacturers: Scitex Digital Printing Ltd., Indigo, and Nur Macroprinters Ltd. (Pink Sheets:NURMF.PK). HP says that the acquisitions have been great successes, and they have whetted its appetite for more big takeovers, especially in Israel.

HP said, Through ITD, HP will locate and develop significant strategic relations with new and promising companies even before they turn into another Mercury.

An executive said: "We've done our market research, identifying companies and what they produce. We'll focus on software companies, but not just on them. We'll also look at solutions for information systems, telecommunications, and the public sector.

Most companies in the Israeli market touch on these sectors and develop software and solutions, while we can supply HP's capabilities of technology, services, and collaboration.

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

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