HP acquires Apogee
| 02 August, 2018
HP Inc. has announced a definitive agreement to acquire Apogee Corporation, a U.K. based office equipment dealer and Europe’s largest independent provider of print, outsourced services, and document and process technology. The transaction values Apogee as of closing at £380M.
This acquisition furthers HP’s plan to disrupt the $55 billion A3 copier market and builds on its printing strategy to: enhance its A3 and A4 product portfolio; build differentiated solutions and tools to expand its Managed Print Services (MPS); and invest in its direct and indirect go-to-market (GTM) capabilities. This includes the selective acquisition of OEDs that provide access to increased profit pools from higher margin services.
“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 program.”