HP buys Samsung printer business for $1 billion
[Global Network Technology comprehensive report] According to foreign media reported on November 2, printer and personal computer maker Hewlett-Packard on November 1 announced that for 1.05 billion US dollars to complete the acquisition of Samsung Electronics's printer business.
Hewlett-Packard Co. said the acquisition will expand HP's investment portfolio and help disintegrate the $55 billion A3 copier market. Because this multifunction printer, although simple to operate, the performance is as high as that of a copying machine.
In a statement, Hewlett-Packard President and CEO Dior Weissler said that with the revival of the printing industry, HP is very pleased to bring together the best and brightest talent in the industry. Together to build over 30 years of leadership in printing to accelerate strategic development, seize new market opportunities and provide customers and partners with unique and highly innovative printing solutions.
In this acquisition, HP will also receive more than 6,500 printing patents from Samsung and nearly 1,300 researchers and engineers who are experts in laser technology, imaging electronics, and supply and accessories. In addition, Samsung will purchase through the open market and inject 100 million to 300 million U.S. dollar equity investment into Hewlett-Packard.
At the same time, HP also sees 3D printing as a potential growth area. In an interview with CNBC in October, Wesler said that HP has entered the 3D printing technology and rushed to the market before the inevitable production interference. HP disclosed on November 1 that it will provide financial guidance during the fourth quarter earnings conference call. Earlier, the company’s executives said they were cautiously optimistic about investing next year. (Internship compilation: Wu Jing reviewer: Li Zongze)
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