Originally published at wirthconsulting.org
HP Inc. to Acquire Largest European Office-Equipment, MPS Dealer
Following its acquisition of Samsung’s printer business and the launch of a portfolio of A3 and A4 copier/MFPs, HP is making another movement to disrupt the $55 billion A3 copier/MFP market. This time, the strategy is to acquire UK-based office-equipment dealer Apogee Corporation.
The transaction values Apogee, Europe’s largest office-equipment, MPS dealer, at £380M (approximately U.S. $498,788,000.00).
HP says the acquisition will further its plan to disrupt the $55 billion A3 copier/MFP market and builds on its printing strategy to: enhance its A3 and A4 product portfolio; build differentiated solutions and tools to expand its Managed Print Services (MPS); and invest in its direct and indirect go-to-market (GTM) capabilities. This includes the selective acquisition of office-equipment dealers that provide access to increased profit pools from higher-margin services.
Apogee sells office-equipment sourced from Canon, Hewlett-Packard, Samsung Ricoh, Xerox, Kyocera, and Konica Minolta.
Enrique Lores (pictured), president of HP Imaging and Print, commented: “The Apogee acquisition extends HP’s print leadership by boldly leveraging the industry shift to contractual sales as we aggressively pursue the A3 office market. We’re augmenting our go-to-market and enhancing our ability to deliver the services necessary to win in the profitable contractual market. This deal complements our broader channel strategy and HP remains committed to building our business through our best-in-class partner program.”
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