moving print server from domainA to domainB

We are in the middle of breaking away from our parent company and a few things still reside on their network. One being OUR print server. All of our users in our company are pointed to that print server and we want to move it from their domain to ours. So i guess the question would be
1) what would the ramifications be if we simply added the print server to our domain.
2) would i have to remap the printer on all the user? if so is there a tool or a script that will allow me to do that?

thank you for any help!