HP has been making technology news a lot recently. They have just unveiled a few new nice computer products as well as a couple of LED computer monitors. However, the company that sits among the top of the technological world is making news for a different reason.
Hewlett-Packard is planning on acquiring Printelligent. Printelligent is a 23-year-old company that specializes in managing computer printing expenses for small and medium-sized businesses. Heads of HP sat down with the people from Printelligent on Tuesday to discuss the acquisition though final terms of the deal were not disclosed to the public.
Printelligent is currently based in Salt Lake City, Utah, though the company did state that it has customers in 39 states across the country. HP is based in Palo Alto, California and is one of the world’s largest manufacturers of personal computers, printers and other pieces of technology.
HP’s acquisition of Printelligent is expected to be completed by the end of July, 2011. After the deal is completed, Printelligent will become a part of HP’s imaging and solutions group. HP’s imaging and solutions group generates nearly $26 billion every year in annual revenue.
This acquisition of Printelligent by HP looks like it will bode well for HP as well as Printelligent. It also looks like it will be a very good acquisition for customers of both Printelligent and HP. We will have full details on Printelligent’s acquisition as HP releases it.
Source: Bloomberg Businessweek – HP to buy computer printing management service