Samsung Sales Its Printer Business To HP For $1.05 billion

South Korean giant Samsungis officially selling its printer business to HP for whooping $1.05 billion "to concentrate on its core business areas." meanwhile, HP sees the deal as a way "to disrupt and reinvent the $55 billion copier industry, a segment that hasn't innovated in decades."

By November 1, the Samsung's printer division will become a separate company and then it'll be finally sold to HP.
Statistics shows that the business currently provide work and employs 6,000 people and records a revenue of $1.8 trillion in 2015.

Additionally, according to gsmarena, HP will get Samsung's over 6,500 printer-related patents as well as 1,300 engineers and researchers. Samsung won't stop selling printers with its own brand in South Korea, but they'll be manufactured by HP.