HP today announced that it has completed the acquisition of the Samsung Electronics printer business in a total amount of 1.05 billion U.S. dollars, or about 6.95 billion yuan.
HP is a global leader in printers and printing supplies, accounting for 45-50% of sales in 2016 and 5-10% for Samsung.
In September 2016, HP and Samsung signed a definitive agreement that HP will acquire all the equity and assets of Samsung's global printer business.
Although the two merged, the market share will exceed 50%, with the market dominance, but the relevant agencies such as China's Ministry of Commerce still conditionally approved the transaction.
Hewlett-Packard said HP will accelerate the subversion of the $ 55 billion A3 MFP market following the integration of Samsung's printer business, as well as a top team of more than 6,500 patents and nearly 1,300 R & D personnel and engineers at Samsung printers Laser printing, electronic imaging and supplies and accessories experts.
After the acquisition of the Samsung printer business, HP can provide the industry's most powerful portfolio of A3 smart multifunction machines, combined with the simplicity of both the printer and copier
Hewlett-Packard Co. will disclose more financial guidance data at the fourth quarter 2017 teleconferencing under which Samsung will make a $ 100 million to $ 300 million equity investment in the open market through HP.
