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HP Completes Acquisition of Apogee Corporation

Advances Print strategy and investment in contractual services


PALO ALTO, Calif. – WEBWIRE

HP Inc. (NYSE: HPQ) today announced it completed the acquisition of Apogee Corporation, a U.K. based office equipment dealer (OED) and Europe’s largest independent provider of print, outsourced services, and document and process technology. The transaction values Apogee at £380M.

The acquisition furthers HP’s strategy to disrupt the more than $50 billion A3 copier market and enhance its A3 and A4 product portfolio, expand its Managed Print Services (MPS) and invest in direct and indirect go-to-market (GTM) capabilities. Apogee augments HP’s services portfolio in contractual office printing and MPS, where solutions are increasingly important for small and medium businesses (SMBs).

Apogee will operate as an independent subsidiary of HP, with a governing board comprised of HP and Apogee management. Apogee will have the same commercial relationship with HP as any other premium partner with access to the same tools and partner programs.

HP announced its intent to acquire Apogee on August 1. 

About HP Inc.

HP Inc. creates technology that makes life better for everyone, everywhere. Through our portfolio of printers, PCs, mobile devices, solutions, and services, we engineer experiences that amaze. More information about HP (NYSE: HPQ) is available at www.hp.com.

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Forward-Looking Statements

This document contains forward-looking statements within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Such statements involve risks, uncertainties and assumptions. If such risks or uncertainties materialize or such assumptions prove incorrect, the results of HP Inc. (“HP”) and its consolidated subsidiaries could differ materially from those expressed or implied by such forward-looking statements and assumptions. All statements other than statements of historical fact are statements that could be deemed forward-looking statements, including the expected benefits and costs of the transaction; any statements of expectation or belief; and any statements of assumptions underlying any of the foregoing. Risks, uncertainties and assumptions include the possibility that expected benefits may not materialize as expected; that the parties are unable to successfully implement integration strategies; and other risks that are described in HP’s SEC reports, including but not limited to the risks described in HP’s Annual Report on Form 10-K for its fiscal year ended October 31, 2017 and HP’s other filings with the Securities and Exchange Commission. HP assumes no obligation and does not intend to update these forward-looking statements. HP’s Investor Relations website at http://www.hp.com/investor/home contains a significant amount of information about HP, including financial and other information for investors. HP encourages investors to visit its website from time to time, as information is updated and new information is posted.

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