HP completes US$1 billion acquisition of Samsung printers

HP's A3 copier replacement efforts are being kicked into high gear by the US$50 billion printer and PC behemoth's US$1.05 billion acquisition of Samsung's printer business.

HP, for its part, said it expects the new A3 products, which began shipping earlier this year, to grab a 12 percent share of the copier replacement market over the next several years.

HP celebrated the closing of the Samsung deal on Wednesday at a Suwon, South Korea Samsung facility where HP executives welcomed the new Samsung workforce of 6000 employees including 1300 researchers and engineers. The deal also includes more than 6500 Samsung printer patents.

"This gives us the technology that we will need to drive the transformation in the copier industry," said HP Imaging and Printing president Enrique Lores in an interview with CRN USA.

"It will help us to reinforce and strengthen our position in A4. Also this will position us in a very strong position from a technology perspective. They have a great engineering team in Korea and a very strong patent portfolio that we will be integrating into our portfolio."  read the rest here