HP To Buy Samsung's Printer Business For $1.05 Billion

HP has agreed to a deal with Samsung to acquire their printer business for $1.05 billion, a deal that will be the largest print acquisition in HP's history. USA Today reports: "The acquisition of Samsung's printer business allows us to deliver print innovation and create entirely new business opportunities with far better efficiency, security, and economics for customers," said HP president and CEO Dion Weisler in a statement. The Samsung deal would give HP access to 6,500 printing patents as well as 1,300 researchers and engineers "with advanced expertise in laser printer technology." While this deal is being negotiated, Samsung's mobile phone business has been navigating a recall of its Galaxy Note 7 smartphones over issues with batteries catching fire and exploding. One of the most recent accidents reported involved a six-year-old boy in New York, who was using the device when it "suddenly burst into flames."