HP announces Apogee purchase
HP has announced plans to acquire Apogee, Europe’s largest independent provider of print, outsourced services, and document and process technology. The transaction values Apogee at £380 million.
“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,” said Enrique Lores, president, HP Imaging and Print.
“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 programme.”
HP has been investing in the A3 business with strategic initiatives including the acquisition of Samsung’s printer business and the launch of a portfolio of A3 and A4 multi-function printers based on unique IP and value-added services and solutions.
The deal is expected to close by the end of calendar year 2018.
Following the close, Apogee will operate as an independent subsidiary of HP, with a governing board comprised of HP and Apogee management.
Apogee will have the same commercial relationship with HP as any other premium partner with access to the same tools and partner programmes.