Report: HP Runs rule over Landa Digital Printing
Benny Landa's second digital printing revolution took longer to materialise than initially envisaged
HP has been named as one of two potential purchasers of Landa Digital Printing.
Landa Digital Printing has been operating under court protection since last month, after the firm experienced a cash flow crisis and existing investors were unwilling to provide further funding.
Over the weekend Israeli finance and tech publication Ctech by Calcalist named HP and investment group FIMI as potentially interested parties.
HP and LDP founder Benny Landa have a long backstory, as HP agreed to acquire Landa's pioneering Indigo digital press business back in 2001 in a mega $830m deal (around £580m at the time).
Landa's B1 sheetfed inkjet presses could potentially slot into HP's existing industrial printing product range, with B2 its biggest sheetfed option currently.
FIMI is Israel's biggest private equity firm and largest industrial body in the country's economy. It has more than $7bn in assets under management across a diverse range of businesses including Israel's only papermaker, Hadera Paper.
Benny Landa is LDP's biggest investor via his own funds and through his Landa Labs venture.
The currently loss-making business reportedly has more than $500m in debt, and any buyer will have to reach an agreement with its creditors.
The court protection is currently set to expire at the end of this month.
LDP declined to comment on the Ctech report.
Last month 31 Landa customers, including the UK's Bluetree Group, voiced their support for the company and urged the court to give the process sufficient time to succeed.
They said: "We are ready and willing to work with a new, stable partner to help unlock its full potential and make these systems the productive, reliable assets we all envisioned.
"We urge the court to pursue a course of action that allows for an orderly transition to a new owner who can steward this important innovation into the future."