The deal for 127m ($230m) provides the imaging and IT giant with a portfolio of production machines for graphics and packaging print and a proprietary piezo ink-jet technology that complements its DesignJet range of wide-format machines and thermal print heads.

The future of ownership of Scitex Vision has been subject to speculation since the start of this year, when it was revealed that majority shareholder Scitex was considering its options including an IPO.

"Once the details [of the IPO] became public we were approached by HP and others," said executive vice president Itai Halevy. "HP moved faster and stronger than the others."

It first had discussions with HP over a year ago. Scitex Vision will become part of the US company's Imaging and Printing Group, which also includes fellow Israeli digital print developer Indigo.

It will operate as a standalone division within the group under the existing management, headed up by chief executive Dov Ofer.

According to Halevy, the firm's dominance of the digital solvent inks market, which at 1.5m litres per year the firm estimates accounts for half the total market, made it an attractive option for HP.

He added that its machines, including the Turbojet, use huge volumes of ink due to their production speed.

In the next year Scitex Vision will roll out a second generation of its piezo print head, based on the Aprion technology.

It will also launch a new range of UV-cured machines and is investing heavily in UV ink technology.

Story by Barney Cox