HP Inc HPQ 29,71 -0,01 -0,03% (the printer and consumer business) has announced a deal to acquire Samsung’s Unfortunately, we could not get stock quote KRX:005930 this time. printer business. (HP Acquires Samsung Printer Business) HP is looking to disrupt the $55bn copier industry and acquiring Samsung’s multi-function printers helps.
“When we became a separate company just 10 months ago, it enabled us to become nimble and focus on accelerating growth and reinventing industries. We are doing this with 3D printing and the disruption of the $12 trillion traditional manufacturing industry, and now we are going after the $55 billion 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.” – Dion Weisler, President and CEO, HP Inc.
Multi-function printers (MFPs) are replacing copiers across corporate environments, providing scanning, copying and printing in a single station. Samsung has a broad range of A3 MFPs that are easy to use, and also easy to maintain. Corporate environments don’t like holding lots of different consumables, so minimising and making these common across platforms helps adoption. Previously HP has relied on Canon engines for its laser platforms. As Samsung has its own engine, HP now has choices in the future. We’ll see how that goes.
“HP Inc. has been a valued partner and customer of Samsung. We can now leverage our combined capacity for innovation to further enhance the value of our relationship.” – Dr. Oh-Hyun Kwon, Vice Chairman and CEO, Samsung Electronics Co., Ltd.
HP will gain access to Samsung’s print solutions team of 1,300 researchers and 6,500 patents. The transaction is expected to close within 12 months pending the usual regulatory reviews. Samsung has agreed to make a $100mn-300mn investment in HP Inc once the deal closes.