Apogee

Apogee — the British supplier of the printing equipment. The most part revenue of the company arrives from long-term contracts on delivery and sale of the equipment and services for printing, including supplies. Apogee also offers services of management of printing (managed print services, MPS) which optimize use of printers, allowing the organizations to save money and  resources.

History

2018: HP Inc. purchased Apogee for $500 million

At the beginning of August, 2018 HP Inc company. announced Apogee acquisition to strengthen the positions in the market of the copy equipment of A3 format (annual sales are estimated at $55 billion here) and to expand business in the field of services of management of printing. The cost of the transaction is 380 million pounds sterling that at the time of the announcement of the agreement corresponds to nearly $500 million.

According to the statement of HP of Inc., the Apogee company locates a strong portfolio of highly profitable contract services of printing which are addressed to small and medium business.

With a sight on the A3 copiers HP Inc market. made purchase for half a billion dollars

Purchase of Apogee will strengthen the leading positions of HP in print area as she will allow to use profitable transition of the market to contract sales, and we actively develop in the market of office equipment of A3 format — the president of division of HP of Imaging and Print Enrique Lores says. — This transaction supplements our extensive channel strategy. HP still aims to build business through partners.

Close the transaction on sale of Apogee of HP Inc company. it is planned until the end of 2018 calendar year. Previously regulators should study it.

After accomplishment of all formalities Apogee will be a part of HP of Inc., but will continue to work as the autonomous company at which the board will mix up with leadership team of HP Inc. Top managers of Apogee will remain on the places.

In HP Inc. note that income from merger of Apogee will arrive within several years as the British company works generally with long-term contracts.^[1]

Notes