HP completes acquisition of Samsung printer division

HP has completed the acquisition of Samsung’s printer division on schedule. The deal was announced a year ago. In particular, HP sees growth difficulties in the A3 copiers segment and believes that the acquisition will enable it to make a profit.

According to HP, the acquisition was completed on Wednesday. HP paid $1.05 billion for Samsung’s printer division, which is currently 904 million euros. The company thus obtained more than 6,500 printer patents from Samsung; 1,300 researchers and engineers from Samsung also started working at HP.

At the takeover, HP praised Samsung’s A3 MFPs, which, according to HP, are easy to use and maintain. According to the company, 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 at the time of the acquisition. The goal of the PC and printer manufacturer is to replace these devices with multifunctionals.

Part of the deal is that Samsung will buy shares in HP worth 100 to 300 million dollars after the acquisition is completed. HP says it will disclose more about its financial expectations during the announcement of its upcoming quarterly figures.