Samsung completes sale of printer business to HP Inc

Samsung Unfortunately, we could not get stock quote KRX:005930 this time. has completed the sale of its printer business to HP Inc for $1.05bn. (HP Completes Acquisition of Samsung Electronics Co., Ltd. Printer Business). This completes a deal announced in September 2016 (HP Inks $1.05bn deal for Samsung’s Printer Business)

HP has acquired not only the Samsung multi-function printer portfolio but also the 1,300 researchers and engineers that design them. They also now have access to 6,500 patents that Samsung have in the print space. Samsung will now take a stake of $100mn-$300mn in HP Inc.

“As we ignite a renaissance in printing, we’re thrilled to bring together the industry’s best and brightest talent. 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.” – Dion Weisler, President and CEO, HP Inc