HP Inc has announced it has completed the acquisition of Samsung's printer business for $1.05 billion (£800 million), including its exhaustive list of patents.
The purchase means HP can add A3 copier technologies to its A4 portfolio of printers, and use Samsung's 6,500 print patents.
“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 of HP.
“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.”
Samsung's printer division, with its 1,300 researchers and engineers, will join HP, offering their expertise in specialist areas such as laser technology, imaging electronics and supplies and accessories.
The acquisition will also help HP develop a greater variety of managed print and document services via Samsung's entire portfolio, HP said.
HP's intention to buy Samsung's printer business was first announced last year and as part of the deal, Samsung will be making an equity investment in HP of between $100 million and $300 million.
The company is expected to reveal the precise details of the deal during its Q4 2017 earnings call, including anticipated revenues from the pairing.
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