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China approves HP's buy of Samsung's printer business

HP expects to close the acquisition in the fourth quarter which ends on December 31

Josephine Mason & Stella Qiu | Reuters  |  Beijing 

Under the deal, HP would add an intellectual property portfolio of more than 6,500 printing patents
Under the deal, HP would add an intellectual property portfolio of more than 6,500 printing patents

said on Thursday it has approved HP’s $1.1-billion purchase of Electronics’ printer business with certain restrictions, citing concerns about the US firm’s dominance of the domestic laser printer market.
 
HP announced the deal in September 2016, hoping to disrupt the $55-billion copier market by focusing on multifunction printers and more deeply embedding mobile and cloud printing technologies to its product solutions.

 
It hoped at the time to close the transaction within 12 months, pending regulatory review.
 
In a statement issued late on Thursday, the said sale of A4 format laser printers by HP in should be done on “fair and reasonable” terms and the firm must report every six months on their prices and related data to the ministry.
 
HP must not buy any stakes in other in even if they are a minority equity investment, it said.
 
It must not adapt its printers to restrict compatibility with third-parties or claim in advertising that its printers are not compatible with other suppliers, the ministry said.
 
HP expects to close the acquisition in the fourth quarter which ends on December 31, a spokeswoman said in an email. She declined to comment on the regulatory process.
 
was not immediately available for comment.
 
Under the deal, HP would add an intellectual property portfolio of more than 6,500 printing patents and nearly 1,300 researchers and engineers with expertise in laser printer technology, imaging electronics and printer supplies.

First Published: Sat, October 07 2017. 03:47 IST
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