HP purchases Samsung's printer business for a cool $1.05 billion
On Monday, HP Inc. made two major announcements for its commercial printing business. HP Inc., which comprises the former personal systems and printing businesses of Hewlett Packard, revealed that it would not only acquire Samsung's printer business for $1.05 billion, but also that it is releasing a new line of A3 (yes, the paper size) multi-function printers (or MFPs) that are meant to go head-to-head with purportedly less-versatile and more complicated A3 copiers from other manufacturers.
Through the $1.05 billion deal with Samsung, HP will take on Samsung's portfolio of printers, its 6,500 printing patents, and a workforce of 1,300 researchers and engineers. With these assets, HP hopes to "disrupt and reinvent the $55 billion copier industry." HP thinks that customers have grown frustrated with the ...