HP has announced that it has signed a definitive agreement to acquire substantially all of the assets of Printelligent, a closely held provider of managed print services (MPS). Financial terms of the deal were not disclosed.
The infrastructure, software and trained workforce of Printelligent, combined with HP’s channel relationships, experience and broad base of services and solutions will strengthen HP’s leadership in MPS. This acquisition, combined with HP’s current assets, also will help HP’s channel partners extend their customer relationships while recognizing new revenue streams.
The greatest opportunity for MPS worldwide will be in midsize companies, with five-year projected compound annual growth rates of 14 to 23 percent (100-499 and 500-999 employee companies) according to Angele Boyd, vice president and general manager, Imaging/Printing Document Solutions and SMB Group, IDC.
HP’s acquisition of Printelligent is part of the company’s effort to optimize the traditional technology environments that its customers depend on and deliver a connected world – from the customer to the enterprise.
“As a market leader in Managed Print Services, this acquisition puts us even further ahead by strengthening our ability to deliver services and solutions through our channel partners to SMB customers,” said Vyomesh Joshi, executive vice president, Imaging and Printing Group, HP. “We’re reinforcing our commitment to our channel partners by bringing them a level of technology and experience that is unprecedented in the industry.”
“Printelligent built an industry-leading managed print offering over the past 23 years,” said Rob Wellman, chief executive officer, Printelligent. “With HP’s strength, this offering will continue to grow, and channel partners will deliver an unparalleled solution to help customers better manage their print environments.”
Upon completion of the acquisition, Printelligent’s assets will be integrated into the LaserJet and Enterprise Solutions unit within the Imaging and Printing Group of HP. The acquisition is subject to customary closing conditions and is expected to close in the company’s fiscal third quarter.