NUR Macroprinters - 3/3/2008
NUR Macroprinters Finalizes Sale of Business to HP
NUR Macroprinters Ltd. announced today that it has finalized the sale of substantially all its assets to
Hewlett-Packard Company (HP) in accordance with the asset purchase agreement signed on Dec. 9, 2007.
Under the terms of the agreement, HP has paid $118.4 million in cash to NUR (including $14.5 million deposited
in an escrow account). HP has withheld approximately $1.6 million until final calculation of NUR's cash position
at closing and additional $1.5 million until the assignment of NUR's Belgium subsidiary's obligations with
respect to such subsidiary's capital lease and Government grants, to NUR. NUR will retain approximately $1
million in cash and will use approximately $21.7 million of the proceeds to repay loans to its lender banks.
NUR has also retained several additional liabilities (approximately $1.5 million of which have been paid prior to
closing and deducted from the purchase price) and is still evaluating the tax consequences of the transaction.
Following the closing of the transaction, David Reis, President and CEO, NUR Macroprinters, has joined the
HP management team. Yuval Cohen, Managing Partner of Fortissimo Capital and Chairman of the NUR board
of directors stated: "On behalf of NUR's board of directors, management and employees, we wish to thank Mr.
Reis for his unrivaled support and dedication during his tenure at NUR, particularly in repositioning the company
as a market leader for wide-format UV production printers."
NUR's board of directors will convene shortly to discuss the future directives for the company and appoint a