This week, HP has announced that they will be acquiring Samsung’s printer business for a total of $1.05 billion.

After the deal, Samsung’s Printing Business Unit will be run completely independent, however, HP will have 100 percent of the ownership in the business.

That said, both companies expect that it will take up to a year to close the deal, concluding after the necessary regulatory approval.

But once it has been completed, Samsung will make a  reciprocal investment of between $100 million and $300 million into HP’s business. Currently, Samsung’s printer division employs around 6,000 people, 1,300 of whom are in R&D, 50 are in the sales offices around the world and the rest are in production.

Alongside the deal, HP will also get Samsung’s portfolio of around 6,500 printing patents.

HP President and CEO, Dion Weiser explained more:

“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.”

You can read more at the source link below.

Source: Samsung

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