Aims to reinvent and replace service-intensive copiers with superior multifunction printing
Palo Alto, Calif., and Suwon, South Korea, Sept. 12, 2016 — HP Inc. (NYSE: HPQ), the world leader in printing, today announced a definitive agreement to acquire Samsung Electronics Co., Ltd.’s (005930.KS) printer business in a deal valued at $1.05 billion.
The transaction is expected to close within 12 months pending regulatory review and other customary closing conditions. After closing, Samsung has agreed to make a $100 million to $300 million equity investment in HP through open market purchases.
“Copiers are outdated, complicated machines with dozens of replaceable parts requiring inefficient service and maintenance agreements. Customers are frequently frustrated with the number of visits needed to keep copier machines functioning,” it explained.
HP was known as a world wide printer manufature, now they want to replace coppiers by multifunction printer (MFP), a lowcost and flexiable device. But with me, I don’t like Samsung Printer when Samsung has over 6,500 printing patents and a world-class workforce that includes nearly 1,300 researchers and engineers with advanced expertise in laser printer technology, imaging electronics, and printer supplies and accessories to support continued innovation in print market solutions.
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