HP in Apogee acquisition
August 2, 2018
The OEM has announced the purchase of Apogee Corporation, a UK-based office equipment dealer.
HP describes its new purchase as “Europe’s largest independent provider of print, outsourced services, and document and process technology,” and explains that the acquisition “furthers HP’s plan to disrupt the $55 billion (€47.3 billion) A3 copier market.”
It also will allow the OEM to continue building on its printing strategy, enhancing its A3 and A4 product portfolio, building differentiated solutions and tools to expand its Managed Print Services, and investing in its direct and indirect go-to-market capabilities. “This includes the selective acquisition of OEDs that provide access to increased profit pools from higher margin services,” the OEM explains.
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 superior A3 and A4 multi-function printers based on unique IP and value-added services and solutions. The Apogee acquisition expands HP’s services portfolio in contractual office printing and MPS categories, where solutions are increasingly important for small and medium businesses.
Apogee is described by HP as “a profitable and progressive OED with a proven track record of growth. The company brings strong capabilities in contractual printing services and solutions, an experienced leadership team and access to SMB and mid-market customers.”
Enrique Lores, President of HP Imaging and Print, declared: “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. 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.”
The deal is expected to close by the end of 2018, pending regulatory review and other customary closing conditions.
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.
Categories : City News
Tags : Acquisitions Apogee Corporation HP OEM
