HP a mammoth company, nearly 75 years old, has acquired several top notch companies to maintain its global position as a hardware giant for decades. For years HP’s prime focus was on innovation and product development. With time it has had to sink its teeth into acquisitions and mergers to stay ahead.
To join the list of acquisitions by HP is Samsung Electronics’ printer business, albeit it will be acquired by HP Inc.
For those who are unfamiliar with HP Inc, Hewlett Packard, formerly a single entity has split into two companies – HP Enterprises and HP Inc. HP Inc will pertain to personal computers and printers and HP Enterprises will comprise servers, storage, networking and software services. The companies are expected to generate annual revenues of about 50 billion each. Neither of these two companies will enjoy the status that HP once coveted.
Equipped with nearly 6,000 printing patents and a large workforce, Samsung’s Printing Business acquisition is a good move by HP Inc to strengthen its global position in latest technologies like laser printing. The acquisition is valued at around 1 billion USD. Samsung’s Printer section fetches annual revenues of about $1.8 billion. In all ways, this appears to be a good strategy by HP Inc to consolidate its position in the global market of printers and inkjets.
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