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HP Buying Samsung's Printing Biz For $1.05B

9/12/2016 09:00:00 AM Eastern

The deal, announced today, will give HP access to Samsung's laser printing technology and a larger chunk of a shrinking printer market. HP is No. 1 in the category with a 36-percent share, followed by Epson, Brother and Samsung. For the latter, the sale will allow it to better focus on its core mobile, video and memory chip businesses.

"HP Inc. just got a lot bigger. The personal computer and printing giant said Monday that it will buy Samsung's printing business for $1.05 billion. HP will inherit 6,000 Samsung employees once the deal closes, which HP expects will be in the second half of 2017, said HP president of imaging and printing Enrique Lores."

Read More at Fortune.com

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