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Jan 1, 2003 12:00 AM
Yeoshua Agassi, president and CEO of Scitex Corp. Ltd. (Tel Aviv, Israel) and Ken Levy, chairman of Aprion Digital Ltd., have reached a summary of terms agreement to merge Scitex Vision Ltd. and Aprion Digital Ltd. Scitex Vision (Herzlia, Israel) is a developer, manufacturer and service provider of wide- and super-wide-format digital printing systems and consumables, and a subsidiary of Scitex Corp. Netanya, Israel-based Aprion is a developer, manufacturer and service provider of drop-on-demand inkjet technologies and systems for industrial, end-user and digital-printing applications; Scitex Corp. holds a 43 percent stake in the company.
The merger will reportedly be on an approximate one-to-one basis, and was expected to be completed in December 2002. Dr. Michael Nagler, Aprion president and CEO, comments, “Joining forces with Scitex Vision will substantially expedite the rate of penetration of our products to the market.” The merged company, which will operate under a new name, will continue both firms' current product lines and market initiatives. Dov Ofer, current Scitex Vision president and CEO, will serve in the same role for the merged company. Levy and Nagler will serve on the board of directors as chairman and vice chairman, respectively.