HP today announced a definitive agreement to acquire Samsung’s printer business in a deal valued at .05 billion HP today announced a definitive agreement to acquire Samsung’s printer business in a deal valued at .05 billionHP today announced a definitive agreement to acquire Samsung’s printer business in a deal valued at $1.05 billion. The company plans to disrupt and reinvent the $55 billion copier industry, a segment that hasn’t innovated in decades. Today, HP is investing to disrupt this category by replacing copiers with superior multifunction printer (MFP) technology,” said HP in a press statement. Integrating Samsung’s printer business’ products, will also include their mobile-first and cloud-first user experience. 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.”Samsung’s printer business will come with an intellectual property portfolio of more than 6,500 patents in printing and a world-class workforce including nearly 1,300 researchers and engineers.

Source: Indian Express September 12, 2016 14:05 UTC