Kornit Digital Ltd., a company that develops, designs and markets innovative digital printing solutions for the global printed textile industry, today announced that it has closed a definitive asset purchase agreement with Hirsch Solutions Inc. to purchase remaining Kornit business assets related to the distribution agreement between the companies.
With the completion of this acquisition the companies have successfully finalized, ahead of schedule, the business and operational transition between the parties. Kornit has begun operating in a full direct-to-customer model in North America effective February 7, 2019. As part of the agreement, Kornit Digital will take ownership of relevant Kornit-related customer business assets as well as remaining inventory of systems and ink.
Ronen Samuel, Kornit’s Chief Executive Officer commented, “All teams have worked diligently to ensure a smooth operational transition for all of our customers. We are pleased to have completed this asset acquisition, and the operational transition ahead of schedule. We look forward to executing on our growth strategy in North America.”