HP. Investing in Israeli hi-tech
HP, Industrial Cooperation Authority to extend contract
Reciprocal purchase contract between Industrial Cooperation Authority and Israeli hi-tech's leading foreign investor Hewlett-Packard to be extended by 10 years
The Industrial Cooperation Authority (ICA) and Hewlett-Packard (HP) have announced the 10-year extension of their reciprocal purchase contract.
The initial contract between Israel’s Ministry of Industry, Trade and Labor's ICA and the technology company was first singed 10 years ago.
In the past four years HP has become the largest international company to invest in Israeli hi-tech, with a total investment of some $5.5 billion.
Among the company's big investments in Israel are the $780 million acquisition of digital printer manufacturer Indigo in 2001 and the $250 million purchase of Scitex Vision inkjet system manufacturer in 2005.
HP also opened an ink factory in Kiryat Gat in southern Israel at an investment of over $100 million, and purchased the Mercury software company for $ 4.5 billion.
