HP yesterday announced that it is to acquire the printer business of Samsung for $1.05 billion (£790 million).
The deal – which HP has described as an attempt to “disrupt and reinvent the $55 billion copier industry, a segment that hasn’t innovated in decades," – will also see the Palo Alto-based IT juggernaut also acquire over 6,500 patents associated with printing and Samsung printing's team of 1,300 researchers and engineers.
HP confirmed in 2014 that it was to split its business into two separate companies: Hewlett-Packard Enterprise (HPE) – selling servers and enterprise services – and HP Inc – selling PCs and printers. That process completed in late 2015.
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.”
The move comes days after Micro Focus announced its intentions to acquire HPE in a deal worth in excess of £6.5 billion. With that deal very much in mind, it should come as no surprise that HP is doubling down on its efforts to dominate the hardware and peripheral space.