HP, the world leader in printing, today announced an agreement to acquire Samsung Electronics Co., Ltd.’s printer business in a deal valued at $1.05 billion.
This transaction is part of Samsung’s efforts to concentrate on its core business areas. HP says the acquisition provides them with the opportunity to “disrupt and reinvent the $55 billion copier industry, a segment that hasn’t innovated in decades.”
Dion Weisler, president and CEO of HP, said: “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.”