5 issues you must find out about HP’s $1.05 billion acquisition of Samsung’s printer enterprise

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Steven Burke

A New A3 Sheriff in City

HP’s efforts to interchange the A3 copier are being kicked into excessive gear by the $50 billion printer and PC big’s acquisition of Samsung’s printer enterprise for $1.05 billion.

HP’s companions stated the acquisition offers them the firepower to seize stakes from copier giants reminiscent of Xerox, Ricoh and Konica Minolta.

HP, for its half, stated it expects the brand new A3 merchandise, which started transport earlier this yr, to seize 12 p.c of the copier substitute market over the following a number of years.

HP celebrated the conclusion of the Samsung deal on Wednesday at its Samsung facility in South Korea, the place HP executives welcomed a brand new Samsung workforce of 6,000 workers, together with 1,300 researchers and engineers. The deal additionally contains greater than 6,500 Samsung printer patents.

“It offers us the know-how we’ll have to drive change within the copier business,” stated Enrique Lores, president of HP Imaging and Printing, in an interview with CRN. “It will assist us consolidate and consolidate our place in A4. On the similar time it can put us in a really robust place from a know-how standpoint. They’ve an incredible engineering workforce in Korea and a really robust patent portfolio that we combine with our Will do. Portfolio.”

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