HP has acquired Samsung Electronics’ printer business in a deal valued at $1.05bn in a move to reinvent the $55bn copier industry by replacing the technology with MFPs.
This is the largest print acquisition in HP’s history and a statement on the move said it not only accelerates HP’s growth opportunities in the copier segment, but strengthens its laser printing portfolio established with Canon.
“When we became a separate company just ten months ago, it enabled us to become nimble and focus on accelerating growth and reinventing industries,” said Dion Weisler, president and CEO of HP. “We are doing this with 3D printing and the disruption of the $12 trillion traditional manufacturing industry, and now we are going after the $55bn copier space. The acquisition of Samsung’s printer business allows us to deliver print innovation and create entirely new business opportunities with far better efficiency, security, and economics for customers.”
Samsung’s printer business brings with it an intellectual property portfolio of more than 6,500 printing patents and a workforce that includes nearly 1,300 researchers and engineers with expertise in laser printer technology, imaging electronics, and printer supplies.