HP is buying Samsung Electronics Co.'s printer business in a transaction worth $1.05 billion.
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HP 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.。
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SEE ALSO:Samsung's Galaxy Note7 debacle is a gift to Apple
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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 fell nearly 3 percent in premarket trading.。
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