HP Inc. completed its acquisition of Samsung Electronics Co. Ltd.’s printer business in a deal valued at US$1.05 billion. The move was first announced in September 2016, when HP stated the acquisition – the third largest in HP’s history – positions it to disrupt the US$55 billion copier industry.
HP explains A3 technology represents its largest growth opportunity in business printing. The Samsung acquisition also strengthens HP’s position in A4 laser printing, in addition to providing intellectual property of more than 6,500 print patents and a workforce of nearly 1,300 researchers and engineers with expertise in laser technology, imaging electronics and supplies and accessories.
“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,” said Dion Weisler, President and CEO, HP Inc.
As part of the agreement, Samsung will be making a US$100 million to US$300 million equity investment in HP through open market purchases.
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