HP has announced it will acquire Apogee Corp., a U.K.-based office equipment dealer and independent provider of print, outsourced services, and document and process technology, for £380 million (roughly C$644 million).
HP says the acquisition will build on its strategy to: enhance its A3 and A4 product portfolio; build differentiated solutions and tools to expand its Managed Print Services (MPS); and invest in its direct and indirect go-to-market capabilities.
“The Apogee acquisition extends HP’s print leadership by boldly leveraging the industry shift to contractual sales as we aggressively pursue the A3 office market,” says Enrique Lores, President, HP Imaging and Print. “We’re augmenting our go-to-market and enhancing our ability to deliver the services necessary to win in the profitable contractual market. This deal complements our broader channel strategy and HP remains committed to building our business through our best-in-class partner program.”
HP has been investing in the A3 business with strategic initiatives including the acquisition of Samsung’s printer business and the launch of a portfolio of superior A3 and A4 multi-function printers.
The deal is expected to close by the end of 2018, pending regulatory review and other customary closing conditions. Following the close, Apogee will operate as an independent subsidiary of HP, with a governing board comprised of HP and Apogee management. Apogee will have the same commercial relationship with HP as other partners, with access to the same tools and partner programs.
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