5 Things You Need To Know About HP's $1.05B Acquisition Of Samsung's Printer Business

A New A3 Sheriff In Town

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

HP partners said the acquisition gives them the firepower to grab share from copier stalwarts like Xerox, Ricoh and Konica Minolta.

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 Wednesday at a Suwon, South Korea Samsung facility where HP executives welcomed the new Samsung workforce of 6,000 employees including 1,300 researchers and engineers. The deal also includes more than 6,500 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. "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 more articles on: