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HP completes its acquisition of Samsung printers valued at $1.05 billion

By Yrda Veanssa Sy Fernandez - on 2 Nov 2017, 1:57pm

HP completes its acquisition of Samsung printers valued at $1.05 billion

HP Inc., the world leader in printing, announced on November 01, 2017 the completion of its acquisition of Samsung Electronics Co., Ltd.’s business in a deal valued at $1.05 billion.

A3 represents HP’s largest growth opportunity in business printing. The combination with Samsung expands HP’s portfolio, accelerates its ability to disrupt the $55B A3 copier segment with superior multifunction printing technology, and strengthens its leading A4 laser printing business. Samsung also brings compelling intellectual property of more than 6,500 print patents in a world-class workforce of nearly 1,300 researchers and engineers with expertise in laser technology, imaging electronics, 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.”

Image source: Reuters

With Samsung, HP now offers the industry’s strongest portfolio of A3 multifunction printers that deliver the simplicity of printers with the high performance of copiers. The fully integrated portfolio, including next generation PageWide technologies, offers opportunities to grow managed print and document services as sales models shift from transactional to contractual. Customers will have greater choice, reliability, and uptime, with lower cost of ownership and more affordable color. The combined portfolio also features unmatched security such as HP Connection Inspector, HP Sure Start, Run-time intrusion detection and whitelisting, making them the world’s most secure printers.

HP will provide more financial guidance on its Q4 2017 earnings call. As part of the agreement, Samsung will be making a $100 million to $300 million equity in HP through open market purchases.