HP Completes Acquisition of Samsung Electronics Co., Ltd. Printer Business
November 01 2017 - 3:35AM
HP Inc. (NYSE:HPQ), the world leader in printing, today announced
the completion of its acquisition of Samsung Electronics Co.,
Ltd.’s printer business in a deal valued at $1.05 billion.
A3 represents HP’s largest growth opportunity in business
printing. The combination with Samsung expands HP’s portfolio,
accelerates its ability to disrupt the $55B A3 copier segment with
superior multifunction printing technology, and strengthens its
leading A4 laser printing business. Samsung also brings compelling
intellectual property of more than 6,500 print patents and a
world-class workforce of nearly 1,300 researchers and engineers
with expertise in laser technology, imaging electronics and
supplies and accessories.
“As we ignite a renaissance in printing, we’re thrilled to bring
together the industry’s best and brightest talent,” said Dion
Weisler, President and CEO, HP Inc. “Together, we will build on
more than 30 years of print leadership to accelerate our strategy,
disrupt new market opportunities, and provide our customers and
partners with unique and highly innovative print solutions.”
With Samsung, HP now offers the industry’s strongest portfolio
of A3 multifunction printers that deliver the simplicity of
printers with the high performance of copiers. The fully integrated
portfolio, including next generation PageWide technologies, offers
opportunities to grow managed print and document services as sales
models shift from transactional to contractual. Customers will have
greater choice, reliability and uptime, with lower cost of
ownership and more affordable color. The combined portfolio also
features unmatched security such as HP Connection Inspector, HP
Sure Start, Run-time intrusion detection and whitelisting, making
them the world’s most secure printers1.
HP will provide financial guidance on its Q4 2017 earnings call.
As part of the agreement, Samsung will be making a $100 million to
$300 million equity investment in HP through open market purchases.
About HPHP Inc. creates technology that makes
life better for everyone, everywhere. Through our portfolio of
printers, PCs, mobile devices, solutions and services, we engineer
experiences that amaze. More information about HP Inc. is available
at http://www.hp.com.
Forward-looking statements
This document contains forward-looking statements within the
meaning of the safe harbor provisions of the Private Securities
Litigation Reform Act of 1995. Such statements involve risks,
uncertainties and assumptions. If such risks or uncertainties
materialize or such assumptions prove incorrect, the results of HP
Inc. (“HP”) and its consolidated subsidiaries could differ
materially from those expressed or implied by such forward-looking
statements and assumptions. All statements other than statements of
historical fact are statements that could be deemed forward-looking
statements, including the expected benefits and costs of the
transaction; any statements of expectation or belief; and any
statements of assumptions underlying any of the foregoing. Risks,
uncertainties and assumptions include the possibility that expected
benefits may not materialize as expected; that the parties are
unable to successfully implement integration strategies; and other
risks that are described in HP’s SEC reports, including but not
limited to the risks described in HP’s Annual Report on Form 10-K
for its fiscal year ended October 31, 2016 and HP’s other filings
with the Securities and Exchange Commission. HP assumes no
obligation and does not intend to update these forward-looking
statements. HP’s Investor Relations website at
http://www.hp.com/investor/home contains a significant amount of
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investors. HP encourages investors to visit its website from time
to time, as information is updated and new information is
posted.
- HP’s most advanced embedded security features are available on
HP Enterprise-class devices with FutureSmart firmware 3.7 or above
and is based on HP review of 2016 published embedded security
features of competitive in-class printers. Only HP offers a
combination of security features for integrity checking down to the
BIOS with self-healing capabilities. For a list of compatible
products, visit:
http://h20195.www2.hp.com/V2/GetDocument.aspx?docname=4AA6-1178ENW.
For more information, visit:
www.hp.com/go/printersecurityclaims.
©Copyright 2017 HP Development Company, L.P. The information
contained herein is subject to change without notice. The only
warranties for HP products and services are set forth in the
express warranty statements accompanying such products and
services. Nothing herein should be construed as constituting an
additional warranty. HP shall not be liable for technical or
editorial errors or omissions contained herein.
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