American HP has acquired Samsung‘s printer division for 1.05 billion dollars (935 million euro), its largest printer-focused acquisition ever.
Innovation in an aged industry
HP wants to invest into the printer industry, because it feels there are plenty of innovations in the printer and copier industry. The company says the latter are very outdated and complex, while their maintenance is laborious, whuch is why it wants to replace the older devices with multifunctional printers, able to do multiple tasks instead of the single task of a copier. These newer devices require easier maintenance, which means that the technicians have to make fewer trips to repair them.
The acquisition of Samsung’s printer division, filled with plenty of multifunctional printers, is HP’s next step in this strategy. “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”, CEO Dion Weisler said.
Not only will HP acquire the division and its 6,500 patents, but also the 1,300 employees. The deal should be finalized within the next 12 months. Samsung will then invest between 100 and 300 million dollars (90 to 270 million euro) in shares.
