HP Concludes Samsung’s Printer Business Takeover
Being a world leader in printing, HP Inc. this week declared the conclusion of its acquirement for A3, the printer business of Samsung Electronics, in a contract that has a capitalization of almost $1.05 Billion. A3 represents biggest development opportunity of HP in printing business. The amalgamation with Samsung extends portfolio of HP, paces its capability of disrupting the A3 copier segment worth a value of $55 Billion with advanced technology for multifunction printing, and makes stronger its leading printing business of A4 laser.
Samsung also transports convincing intellectual property of over 6,500 patents in the industry and a world-class labor force of almost close to 1,300 engineers and researchers with proficiency in imaging electronics, laser technology, and supplies as well as accessories. “As we light a new beginning in printing, we are delighted to bring together the brightest and best talent of the industry,” claimed CEO and President of HP Inc. to the media in an interview last week at an event. “In concert, we will utilize more than 30 years of print headship to disrupt new market breaks, pace our line of attack, and offer our partners and customers with highly innovative and unique print solutions,” he further claimed to the reporter while speaking of the acquisition.
With Samsung, HP now provides the strongest portfolio in the industry for A3 multifunction printers that cater the straightforwardness of printers with the high presentation of copiers. The completely incorporated portfolio, conspiring new generation PageWide techs, provides chances to develop document and managed print services since sales models moves to contractual from transactional. Users now will have reliability, more superior choice, and uptime, with reduced price of ownership and more reasonably priced color. The combined range also sports supreme security such as HP Sure Start, HP Connection Inspector, whitelisting, and Run-time intrusion detection, making them the most secure printers all over the world.
As part of the deal, Samsung will be making equity investment, which is worth $100 Million to $300 Million, in HP through open market buyouts.
In short, HP is all set and geared up to dominate the market.