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HP completes Samsung purchase

HP completes Samsung purchase

November 1, 2017

The OEM announced today that it had completed the acquisition of Samsung Electronics Co., Ltd in a $1.05 billion (€902 million) deal.

This strategic acquisition by HP means that the OEM “now offers the industry’s strongest portfolio of A3 multifunction printers”, boosting HP’s ability to “disrupt the $55 billion A3 copier segment”. The purchase of Samsung will also help strengthen HP’s “leading A4 laser printing business.”

In addition, Samsung’s acquisition “brings compelling intellectual property of more than 6,500 print patents and a world-class workforce of nearly 1,300 researchers and engineers with expertise in laser technology, imaging electronics and supplies and accessories.”

“As we ignite a renaissance in printing, we’re thrilled to bring together the industry’s best and brightest talent,” said Dion Weisler, President and CEO, HP Inc. “Together, we will build on more than 30 years of print leadership to accelerate our strategy, disrupt new market opportunities, and provide our customers and partners with unique and highly innovative print solutions.”

As a result of this deal between the two OEMs, their fully integrated A3 portfolio will offer consumers “next generation PageWide technologies”, “opportunities to grow managed print and document services” and “unmatched security” including HP Connection Inspector and HP Sure Start.

As part of the agreement between Samsung and HP, Samsung will make a $100 million – $300 million (€85.9 million – €257.8 million) equity investment in HP “through open market purchases.” 

Categories : City News

Tags : Acquisition HP Samsung

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