HP acquires Samsung printer division

Hewlett Packard buys Samsung’s division that makes printers, multifunctionals and copiers. The acquisition involves an amount of EUR 933 million. The acquisition will give HP more than 6,500 printer patents from Samsung.

After the acquisition, 1,300 Samsung researchers and engineers will start working at HP. According to the PC and printer manufacturer, there has been little innovation in the copier market in recent decades. “They are complex machines that have numerous interchangeable parts, are difficult to maintain and require maintenance contracts,” the manufacturer said in a press release. HP says it wants to replace such devices with multifunctionals. In addition, the brand praises the A3 MFPs from Samsung, which, according to HP, are easy to use and maintain.

HP pays $1.05 billion for Samsung’s printer division. Earlier rumors about the takeover spoke of an amount of $ 1.8 billion. It is the largest acquisition by HP since it split into two companies late last year.

Samsung and HP want to complete the acquisition no later than twelve months after authorities and shareholders have approved it. Part of the deal is that Samsung will buy shares in HP worth 100 to 300 million dollars after the acquisition is completed.