HP completes $1.05 billion acquisition of Samsung’s printer business

“As we ignite a renaissance in printing, we are 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,” Weisler added.

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. As part of the agreement, Samsung will make $100 million to $300 million equity investment in HP through open market purchases. In May this year, the Competition Commission of India (CCI) approved the acquisition of Samsung’s printer business by HP Inc.