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HP is buying Samsung’s printer business for US$1.05 billion with an eye on integrating the best of both companies printing technologies in a move that the HP believes will “disrupt and reinvent” the copier industry, which it says hasn’t innovated in decades.
“Copiers are outdated, complicated machines with dozens of replaceable parts requiring inefficient service and maintenance agreements,” says Dion Weisler, president and CEO of HP. “Customers are frequently frustrated with the number of visits needed to keep copier machines functioning.”
HP believes that by combining Samsung’s printing products with its own the company’s PageWide technologies it will create a suite of printing solutions with the industry’s leading device, document, and data security.
“This is the largest print acquisition in HP’s history and accelerates its growth opportunities in the copier segment, strengthens its leading laser printing portfolio that has been established with Canon, and paves the way for future printing innovation,” says Weisler. “It also creates new avenues for growth and greater profitability for partners as they expand managed print services as sales models shift from transactional to contractual.
“When we became a separate company just 10 months ago, it enabled us to become nimble and focus on accelerating growth and reinventing industries,” says Weisler. “We are doing this with 3D printing and the disruption of the $12 trillion traditional manufacturing industry, and now we are going after the US$55 billion copier space.”