comscore Samsung sells its printer business to HP for $1.05 billion
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Samsung sells its printer business to HP for $1.05 billion

HP has acquired Samsung printer with the aims to replace service-intensive copiers with superior multi-function printing technology. This is also considered as the largest print acquisition in HP’s history.

  • Updated: September 13, 2016 3:02 PM IST
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HP has announced that it has signed a definitive agreement to acquire Samsung s printer business for $1.05 billion. The transaction is expected to close within 12 months.The acquisition aims at replacing service-intensive copiers with superior multi-function printing technology. Dion Weisler, president and CEO of HP said, “when we became a separate company just 10 months ago, it enabled us to become nimble and focus on accelerating growth and reinventing industries.” Also Read - Amazon Prime Day sale deals revealed: Discount on OnePlus Nord CE, Mi 11X, Samsung Galaxy M42

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“We are doing this with 3D printing and the disruption of the $12 trillion traditional manufacturing industry, and now we are going after the $55 billion copier space,” he further added. Samsung has built a strong portfolio of A3 MFPs that deliver the performance of copiers with the power, simplicity, reliability and ease-of-use of printers and with as few as seven replaceable parts. “The acquisition of Samsung’s printer business allows us to deliver print innovation and create entirely new business opportunities with far better efficiency, security, and economics for customers,” Weisler said.

Integrating the Samsung printer business’ products, including their mobile-first and cloud-first user experience, with HP’s next-generation PageWide technologies is set to create a breakthrough portfolio of printing solutions with the industry’s best device, document and data security. The acquisition strengthens HP’s leading laser printing portfolio that has been established with Canon, and paves the way for future printing innovation. “The new HP A3 portfolio and channel program will empower HP’s partners in a region where we are aggressively pursuing growth through innovation and contractual services,” Richard Bailey, President, Asia Pacific & Japan at HP Inc, told IANS.

Samsung’s printer business also brings an intellectual property portfolio of more than 6,500 printing patents and a workforce that includes nearly 1,300 researchers and engineers. “HP Inc. has been a valued partner and customer of Samsung. We can now leverage our combined capacity for innovation to further enhance the value of our relationship,” said Dr Oh-Hyun Kwon, Vice Chairman and CEO of Samsung Electronics Co Ltd. ALSO READ: HP unveils 16 new A3 LaserJet and PageWide platform

Acquiring Samsung’s printer business will also strengthen HP’s ability to service customers in global laser printing, a category where it has enjoyed a mutually beneficial partnership with Canon for more than three decades. “HP and Canon have long discussed print innovation to create customer value in business printing and in the growing MPS market. This transaction will further evolve our collaboration and bring about growth for both of our companies,” said Fujio Mitarai, Chairman and CEO of Canon Inc.

Complying with the Digital India vision, the government has launched several e-governance related initiatives like DigiLocker, which allows users to store their documents and use them for verification. The government is now striving for a paperless ecosystem that allows faster implementation of its policies, and benefits to the public. Now, in a move to simplify the process even more, the Tamil Nadu police are planning to soon implement a mobile app for passport verification on a pilot basis in three districts. The announcement was made by a senior official at the Ministry of External Affair. He further said that the handwritten passports were not valid any longer and those holding the same have to get it exchanged for a digital passport.

“The Tamil Nadu government has agreed to use a mobile software application loaded in a tablet to ease the process of police verification needed for issuance of a passport, K Balamurugan, Regional Passport Officer, Chennai said. According to Balamurugan, there will not be any paperwork for the police as every detail will be available on the tablet. He said the central government pays around Rs 150 per verification to the police department for reports submitted within 21 days and Rs 50 for reports submitted beyond that. Implementation of this idea will help police department get their finance easily to purchase the tablets out of the passport verification fee. For applicants who submit Aadhar card, PAN card, Voter Identity card and an affidavit on criminal cases, passports would be issued within four days on post-police verification basis.

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  • Published Date: September 13, 2016 2:30 PM IST
  • Updated Date: September 13, 2016 3:02 PM IST



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