Samsung’s board has finally approved the sale of its printer operation to HP. Well, when speaking of the sale, the giant tech and consumer electronics maker said that it needs to concentrate on its other core business areas.
The company now plans to rule-out the printer division into another company starting November 1st. Samsung has employed 6,000 people, and these have been working on the printer business for some time. It’s expected that the majority of the workforce will be maintained after the sale of the company.
Samsung’s printer business has enjoyed a cool ride for some years, making a whopping $1.8 billion in printer sales in 2015 only. HP, in a news release, stated that the acquisition of Samsung’s printer business will come as the largest acquisition in its history, and in my own view, this could easily qualify as the biggest acquisition in the copier business.