Suwon, South Korea, November 1, 2017— HP Inc. (NYSE: HPQ),
the world leader in printing, today announced the completion of its
acquisition of Samsung Electronics Co., Ltd.’s printer business in a
deal valued at $1.05 billion.
A3 represents
HP’s largest growth opportunity in business printing. The combination
with Samsung expands HP’s portfolio, accelerates its ability to disrupt
the $55B A3 copier segment with superior multifunction printing
technology, and strengthens its leading A4 laser printing business.
Samsung also brings compelling intellectual property of more than 6,500
print patents and a world-class workforce of nearly 1,300 researchers
and engineers with expertise in laser technology, imaging electronics
and supplies and accessories.
“As we ignite a
renaissance in printing, we’re thrilled to bring together the industry’s
best and brightest talent,” said Dion Weisler, President and CEO, HP
Inc. “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.
With Samsung, HP now offers
the industry’s strongest portfolio of A3 multifunction printers that
deliver the simplicity of printers with the high performance of copiers.
The fully integrated portfolio, including next generation PageWide
technologies, offers opportunities to grow managed print and document
services as sales models shift from transactional to contractual.
Customers will have greater choice, reliability and uptime, with lower
cost of ownership and more affordable color. The combined portfolio also
features unmatched security such as HP Connection Inspector, HP Sure
Start, Run-time intrusion detection and whitelisting, making them the
world’s most secure printers.
HP will provide
more financial guidance on its Q4 2017 earnings call. As part of the
agreement, Samsung will be making a $100 million to $300 million equity
investment in HP through open market purchases.
About HP
HP
Inc. creates technology that makes life better for everyone,
everywhere. Through our portfolio of printers, PCs, mobile devices,
solutions and services, we engineer experiences that amaze. More
information about HP Inc. is available at http://www.hp.com.
