HP is buying Samsung Electronics Co.'s printer business in
a transaction worth $1.05 billion.
HP Inc. said Monday that it is the largest print acquisition in
the company's history and will help it go from traditional
copiers to multifunction printers. HP also said the deal will
strengthen its position in laser printing, which it established
with Canon.
Samsung's printer business includes more than 6,500
printing patents.
The deal is expected to close within a year.
Last week Hewlett-Packard Enterprise Co. announced that it
would spin off a big chunk of its business software line-up
in an $8.8 billion deal with Micro Focus International PLC.
Last year CEO Meg Whitman split HP's operations focused
on selling business technology products from its personal
computer and printer operations. At its height, the combined
HP generated more than $100 billion annual revenue.
HP's stock rose 27 cents, or 2 percent, to $14.22 in
morning trading Monday. Its shares have risen 15.7 percent
over the past year.
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