The HP Inc. has made its official announcement on Monday stating that it’s on the verge to buy the printer business of Samsung Electronics. The deal was valued at 1.05 billion dollars. The HP group commented more on the acquisition by affirming that the deal would reinvent the copier industry worth 55 billion dollars. This merger would also allow the HP team to substitute all the copy machines used for official purposes with multifunctional printers. The replacement would avail more business prospects for the HP. The company also spoke about the need for innovation in the electronics sector to enhance various other business partnerships.
The copiers are most often described as complicated machines with old parts. They have been connected to inefficient service and rigid maintenance protocols. It is time to upgrade the copiers to be more efficient. The transaction between HP and Samsung would establish the upright position of laser printing at a global level. The deal can also bring out a long-term business partnership with Canon. Merging with the printer business of Samsung is an ideal choice for HP because the Samsung group holds 6500 printing patents. The workforce of the Samsung Electronics is huge with a total of 6000 members of which 1300 are engineers and potential researchers.
The revenue of the Samsung’s printing unit during the year 2015 was a solid 1.8 billion dollars. As the HP group was fragmented into two parts, it has brought about diversity in the business. The HP enterprise solutions emphasize on retailing hardware to corporates. The other group deals with printers and personal computers. The HP team’s decision to buy Samsung is expected to bring out print innovation. The company is hoping for better efficiency in their customer services. However, the transaction is awaiting a regulatory approval soon. The President of the HP group, Dion Weisler, has expressed happiness over the deal.