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HP Inc finalising Samsung merger

March 7, 2017

HP Inc finalising Samsung mergerThe OEM’s CEO Dion Weisler visited South Korea to “finalise talks” on the deal.

The Investor reported that Weisler visited Seoul last week to “finalise talks” on the planned deal, which would see HP Inc acquire Samsung’s printer business. Weisler was said to have met Kim Ki-ho, CEO of S-Printing Solution, which was the “spun-off entity set up” last year after the deal had been announced, and HP Inc “plans to acquire the firm’s whole stake by July”.

The site added that the deal was “publicised” last year as HP Inc “aims to strengthen its leadership position in the inkjet printer market”, while Samsung will secure “cash by selling off a less profitable business amid its ongoing business restructuring before the pending leadership transfer to a new generation”.

At this point, S-Printing Solution “owns a research base” in Suwon in Gyeonggi province as well as a production plant in China “and some 50 sales operations”, while it employs “some 6,000 people” globally with an annual revenue of W2 trillion ($1.75 billion/€1.65 billion). The Investor noted HP Inc’s previous comment that “all the Korean operations and employees will be retained even after the acquisition” and that it “plans to sell its inkjet printer products under the Samsung brand name in Korea”.

Categories : City News

Tags : Business HP Inc Samsung

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