Following the rumors that did the rounds last week, Samsung has nowconfirmed that it intends to sell its printer business to HP in a deal worth $1.05 billion.
Samsung’s board of directors approved the sale of its Printing Business Unit during a meeting in Seoul today, with a follow-up meeting with shareholders scheduled for October. If given the go-ahead from shareholders, Samsung says it will spin-off its printer business into a new standalone entity on November 1, with HP purchasing a 100 percent stake in the newly formed company.
