HP Inc Is Buying Samsung’s Printer Business

The big news this week is that printing giant HP Inc has agreed to buy the printer business from Samsung for $1.05 billion, with the aim to “disrupt and reinvent” the industry it estimates is worth $55 billion. This lucrative deal will see HP Inc receiving over 6,500 patents from Samsung, helping to expand their printing business into newer areas.

As well as this, HP Inc will also gain a talented workforce from Samsung that includes almost 1,300 researchers and engineers with expertise in a range of print related areas that will help HP to innovate further. This acquisition of the South Korea based Samsung’s printer business will also help to increase the presence of HP Inc in South Asia, furthering opening, or increasing, their accessibility in the world.

“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,” said Dion Weisler, the president and CEO of HP.

Largest HP Inc Acquisition

The acquisition is subject to regulatory review but is expected to close within 12 months. After the closing of the acquisition, Samsung has agreed that it will purchase between $100 million to $300 million in HP shares through open market purchases.

This acquisition is also going to be HP’s largest since it split from Hewlett Packard Enterprise almost a year ago. The HP Inc company focuses on selling personal computers and supplies ink and toner to its printers. The Hewlett Packard Enterprise Company in comparison focuses on enterprise, services, software and financial services.