HP Completes Acquisition of Office-Equipment Dealer Apogee
HP Inc. reported today that it’s completed its acquisition of Apogee Corporation, a U.K.-based office equipment dealer (OED) and Europe’s largest independent provider of print, outsourced services, and document and process technology. The transaction values Apogee at £380M (approximately $500 million).
HP says the acquisition furthers its strategy to disrupt the more than $50 billion A3 copier market and enhance its A3 and A4 product portfolio, expand its Managed Print Services (MPS), and invest in direct and indirect go-to-market (GTM) capabilities. Apogee augments HP’s services portfolio in contractual office printing and MPS, where solutions are increasingly important for small and medium businesses (SMBs).
Apogee sells office-equipment sourced from Canon, HP, Samsung Ricoh, Xerox, Kyocera, and Konica Minolta.
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 programs.
HP announced its intent to acquire Apogee on August 1st.