The Recycler
  • G&G Masthead August 2024
  • Ambiente 2025 Masthead
  • Biuromax Masthead web banner March 2024
  • Katun Masthead Nov 2024

HP-Apogee deal clears regulators

October 24, 2018

The OEM’s acquisition of UK-based Apogee can officially proceed, with European regulators acquiescing to the deal.

Computer Business Review reports that the £380 million ($490.4 million/€430 million) purchase will see print provider Apogee become an independent subsidiary of HP, and will “disrupt the $55 billion (€48.2 billion) A3 copier market and build on its printing strategy,” according to the OEM.

Sanctioning the acquisition, the European Commission ruled that the overlap of the two companies’ activities – suppling regular format printers – was “very limited” and that the merger would still allow “a number of strong players” to compete in the market. The merged entity, post-acquisition, “would not have the ability, or incentive, to shut out competing suppliers of these products as there are many alternative players at both levels,” it added.

HP’s President of Imaging & Printing, Enrique Lores, described the deal as an attempt to tap into a “profit pool in small companies,” raising the prospect of further, similar acquisitions. Apogee itself has acquired four smaller firms since 2016.

“We will be selecting them based on their ability to integrate solutions based on the talent of their management team and based on the value creation opportunity that we will see,” explained Lores. “The acquisition of the Apogee and we announced the intent of doing that in August is our first move in this direction.”

The deal is expected to close by the end of the year.

 

Categories : City News

Tags : Acquisitions Apogee European Commission HP United Kingdom

  • G&G web advert October 2024
  • Ink Tank No Web advert
  • Static Control June 2022 Big & Bold Ad
  • Cartridge Web Nov Web Banner
  • GM Technology Nov Web Ad
  • Apex Web ad Nov 2024
  • IR Italiana Web ad January 2021
  • TN Core Nov Web advert
  • Biuromax Nov 2024 Web Ad
  • Mito Web banner June 2024
  • HYB Web banner Jan 2024
  • ITP Web ad January 2021
  • CET Web ad December 2023
  • denner UK Web Banner Jul 2024
  • Zhono Web ad March 2024
  • PCL Nov Web advert
  • Denner Feb 2024 Web Ad
  • Zhono Web ad March 2024
  • Denner Feb 2024 Web Ad
  • CET Web ad December 2023
  • Mito Web banner June 2024
  • PCL Nov Web advert
  • HYB Web banner Jan 2024
  • denner UK Web Banner Jul 2024
  • ITP Web ad January 2021
  • Denner Feb 2024 Web Ad
  • Zhono Web ad March 2024
  • HYB Web banner Jan 2024
  • denner UK Web Banner Jul 2024
  • PCL Nov Web advert
  • CET Web ad December 2023
  • Mito Web banner June 2024
  • ITP Web ad January 2021

The Recycler, Wittas House, Two Rivers, Station Lane, Witney, OX28 4BH, United Kingdom | Tel: +44 (0) 1993 899800 | Fax : +44 (0) 1993 226899
©2006-2023 The Recycler - Terms & Conditions - Privacy Policy including cookie use

Web design Dorset | Websites by Mark