Shares of HP Inc (NYSE:HPQ) ended Wednesday session in green amid volatile trading. The shares closed up +0.09 points or 0.63% at $14.27 with 8.59 million shares getting traded. Post opening the session at $14.18, the shares hit an intraday low of $14.09 and an intraday high of $14.35 and the price vacillated in this range throughout the day. The company has a market cap of $23.89 billion and the numbers of outstanding shares have been calculated to be 1.71 billion shares.
HP Inc (HPQ) on Sep 12, 2016 announced a definitive agreement to acquire Samsung Electronics Co., Ltd.’s ( KSE : 005930 ) printer business in a deal valued at $1.05 billion.
The acquisition positions HP to disrupt and reinvent the $55 billion copier industry, a segment that hasn’t innovated in decades. Copiers are outdated, complicated machines with dozens of replaceable parts requiring inefficient service and maintenance agreements. Customers are frequently frustrated with the number of visits needed to keep copier machines functioning. HP is investing to disrupt this category by replacing copiers with superior multifunction printer (MFP) technology.
Samsung has built a formidable portfolio of A3 MFPs that deliver the performance of copiers with the power, simplicity, reliability and ease-of-use of printers and with as few as seven replaceable parts. Integrating the Samsung printer business’ products, including their mobile-first and cloud-first user experience, with HP’s next-generation PageWide technologies will create a breakthrough portfolio of printing solutions with the industry’s best device, document, and data security.
This is the largest print acquisition in HP’s history and accelerates its growth opportunities in the copier segment, strengthens its leading laser printing portfolio that has been established with Canon, and paves the way for future printing innovation. It also creates new avenues for growth and greater profitability for partners as they expand managed print services as sales models shift from transactional to contractual.
“When we became a separate company just 10 months ago, it enabled us to become nimble and focus on accelerating growth and reinventing industries,” said Dion Weisler, president and CEO of HP. “We are doing this with 3D printing and the disruption of the $12 trillion traditional manufacturing industry, and now we are going after the $55 billion copier space. The acquisition of Samsung’s printer business allows us to deliver print innovation and create entirely new business opportunities with far better efficiency, security, and economics for customers.”
Shares of Xerox Corp (NYSE:XRX) ended Wednesday session in red amid volatile trading. The shares closed down -0.06 points or -0.61% at $9.73 with 8.40 million shares getting traded. Post opening the session at $9.79, the shares hit an intraday low of $9.62 and an intraday high of $9.82 and the price vacillated in this range throughout the day. The company has a market cap of $9.84 billion and the numbers of outstanding shares have been calculated to be 1.01 billion shares.
On August 31, 2016 The innovative architecture of tiny, stainless steel nozzles inside the new Xerox (XRX) Direct to Object Inkjet Printer has created a new, label-less, on-demand method of personalizing three-dimensional objects.
The nozzles are contained in print heads – about the size of a deck of cards – that accurately spray ink on objects as small as bottle caps and as large as football helmets. The printer can print on plastic, metals, ceramics and glass, eliminating the need for costly labels.
“This innovation opens up a path for creating customized products instantly at a time when the consumer’s appetite is all about personalization,” said Brendan Casey, vice president of Xerox Engineering Services. “Imagine a sports fan coming home from a game with a helmet or ball that was personalized right at the stadium, or a retailer offering on-demand personalization on hundreds of different store items.”
Xerox uses enhanced image-quality algorithms to direct the microscopic nozzles half the width of a human hair. By accurately spraying ink at distances of one-quarter inch, the printer is able to print on smooth, rough, slightly curved or stepped surfaces at print resolutions ranging from 300 to 1,200 dpi. The printer can handle up to 30 objects per hour, with the ability to scale for production.