HP takes a nibble out of Samsung, officially acquires printer division

That’s right, HP has finally completed their acquisition of Samsung‘s printer division, in a deal that’s valued at $1.05 billion.

With this absorption of Samsung’s assets in the printer segment, HP is set for some pretty big growth that’s set to disrupt the $55B A3 copier segment and massively strengthen HP’s portfolio. But this isn’t a sudden move though, as Samsung divested their printer division in the later portion of last year.

The acquisition will also bring HP over 6,500 print patents as well as a world-class workforce of nearly 1,300 researchers and engineers with expertise in laser technology, imaging electronics and supplies and accessories.

As of now, HP offers the industry’s strongest portfolio of A3 multifunction printers, alongside next-gen PageWide technologies; giving potential customers greater range of choice, reliability, and uptime. Users will also be able to benefit from lower ownership costs and more affordable colours.