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An Israeli newspaper has claimed that HP is the main party interested in acquiring Landa, following a cash flow crisis and shareholder exit at the company
An Israeli newspaper has claimed that HP is considering the acquisition of Landa Digital Printing, after it filed for court protection due to a shareholder exit.
According to information gathered by Israeli newspapers, Calcalist and Globes, shareholders of the Rehovot-based printing manufacturer informed the company's management that they would stop financing the company immediately.
According to Calcalist, Landa’s total debts amount to roughly $516m (£377m), with the company citing issues including the Gaza-Israel conflict, as having caused financial difficulties.
The company has carried out a reorganisation process in recent weeks, including the laying off of over 100 employees, roughly 20% of its workforce.
Now in a new report, Calcalist has claimed that global print manufacturer, HP, is the main party interested in acquiring Landa.
The report, which does not cite a specific source, says that the multinational company hired senior professionals to enter the company’s data rooms, which were opened by Landa for potential buyers.
The newspaper goes on to claim that Landa hired Japanese investment bank, Nomura, to oversee the sale process, with a range of manufacturers expressing interest in acquiring the company. According to Calcalist, these include Canon, Agfa, Fujifilm, Epson, Xerox, Brother, and Koenig & Bauer.
HP has a previous history with Landa founder, Benny Landa, having previously bought his first digital printing company, Indigo, for $850m (£570m) at time of purchase in 2002.
HP has since released a wide range of solutions under the Indigo banner, including its recent HP Indigo 120K and 18K B2 presses, which it unveiled at this year’s Hunkeler Innovationdays exhibition in Switzerland.
Landa Digital Printing was launched by Benny Landa in 2011, with its core offering being its Nanography technology, which utilises nano-pigment droplets designed to transfer a completely dry image to the substrate.
There are currently more than 50 Landa machines installed worldwide, with many more reportedly in the pipeline.
