HP to Acquire Samsungs Printer Business For $1.05 Billion
IT major HP today said it will acquire Samsung Electronics printer business in a deal valued at USD 1.05 billion, a move that will allow the US-based company further consolidate its position in the USD 55 billion A3 copier industry.
The acquisition will bring an intellectual property portfolio of more than 6,500 printing patents and a workforce of about 6,000 employees globally, including nearly 1,300 researchers and engineers.
Samsung has key engineering centre in South Korea with operations in the US, India, China, Japan, Russia, Canada, Brazil and other countries.
HP, created as part of the breakup of Hewlett-Packard Co. last year, sells personal computers. However, it gets a significant chunk of its profit from supplying ink and toner for the printers it sells. However, HPs printi...