HP to buy Samsung's printer business
This acquisition positions HP to disrupt and reinvent the US$55 billion copier industry, a segment that hasn’t innovated in decades.
In an attempt to disrupt the copier market, HP Inc. has announced that it’s acquiring Samsung Electronics’ printer business in a deal worth US$1.05 billion.
The largest print-related purchase in HP’s history, the Palo Alto-headquartered company is attracted by Samsung’s portfolio of A3 MFPs (multi-function printers). In essence, HP hopes to “disrupt and reinvent” the US$55 billion copier industry and convince copier customers to switch to MFPs. This acquisition also nets HP over 6,500 printing patents and nearly 1,300 researchers and engineers from Samsung.
The transaction is expected to close within one year, subject to the appropriate regulatory approvals. For those interested, Samsung will first spin off its printing business unit into a separate company, before selling it off entirely to HP. After the transaction, Samsung will still sell Samsung-branded printers in Korea, but these printers will be sourced from HP.
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