HP has agreed to acquire office equipment dealer Apogee for £380 million as it looks to advance its printing strategy.
UK-based Apogee provides print, outsourced services and document management technology, and the acquisition by HP could bolster its push in the A3 copier market, where contractual services like Apogee offers are increasingly important for SMBs.
"The Apogee acquisition extends HP's print leadership by boldly leveraging the industry shift to contractual sales as we aggressively pursue the A3 office market," said Enrique Lores, president of HP's imaging and print division.
"We're augmenting our go-to-market and enhancing our ability to deliver the services necessary to win in the profitable contractual market. This deal complements our broader channel strategy and HP remains committed to building our business through our best-in-class partner programme."
Apogee will operate as an independent subsidiary of HP, which will gain its many SMB and mid-market customers, and a governing board comprised of HP and Apogee management will be put in place.
The deal is subject to a regulatory review, but it is expected to be completed by the end of the year. Apogee will have the same commercial relationship with HP as any other premium partner, with access to the same tools and partner programmes.
HP has been investing in the A3 business with strategic initiatives including the acquisition of Samsung's printer business at the end of 2017 and the launch of a portfolio of A3 and A4 multi-function printers.
