HP to purchase Samsung‘s $1bn printer business
Report reaching us is that, Computer giant company based in US HP Inc. has made an agreement with Samsung to purchased their $1bn printer business.
HP claimed that, the acquisition of the printer business will boost its objective of ‘’disrupting and reinventing’’ the $55bn copier industry, a company that ‘’hasn’t refurbished in decades’’
HP said in a post that, this is the largest acquisition deal to ever happened. ‘’Copiers are outdated, complicated machines with dozens of replaceable parts requiring inefficient service and maintenance agreements’ –HP Inc.
They continue to point out that, customers were always pissed with damaged and broken copier, hence the deal would aid HP Inc. to invest and contribute their best and possible quota to come up with better technology.
Also, Samsung’s $1bn printer business made $1.4bn in revenue last year and they include more than 6,500-strong patent portfolio and 1,300 engineers and researchers.
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Via: | TheVerge |
Image Credits: |Investors|
