SAN FRANCISCO: HP Inc. sees its future in copiers and printers.The personal-computer maker has agreed to buy Samsung Electronics Co.’s printer business for $1.05 billion, betting that it can grab share and generate income, even in a shrinking global market.The deal will add to earnings in the first full year, Palo Alto, California-based HP said in a statement Monday. As part of the agreement, Samsung has committed to buy $100 million to $300 million worth of HP shares on the open market after the acquisition closes, the companies said.The merger opens up a path for HP to focus more on the copier market and get its hands on key laser-printing technology. Samsung’s laser capabilities are more suited for the large copiers that are built for heavy use at company offices. HP relies on Canon Inc. for key laser technology in some of its printers.Deal activity in the printing sector is picking up. Earlier this year, Lexmark International Inc. agreed to be acquired by an investment consortium led by Apex Technology Co. and PAG Asia Capital in a transaction that values the company at $3.6 billion.

Source: The Star September 12, 2016 08:15 UTC