HP Managed Print Services Grow with Printelligent Acquisition

Technology giant Hewlett-Packard 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.
Printelligent is a national managed print provider with regional
offices and employees across the United States. Financial terms of the
deal were not disclosed. 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.

The infrastructure, software and trained workforce of Printelligent,
combined with HP’s channel relationships, experience and base of
services and solutions is designed to strengthen HP’s position in the
MPS sector. This acquisition, combined with HP’s current assets, will
also help HP’s channel partners extend their customer relationships
while recognizing new revenue streams, according to a joint statement
issued by the companies.

“Printelligent built an industry-leading managed print offering over
the past 23 years,” said Rob Wellman, CEO of 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.”

The greatest opportunity for MPS worldwide will be in small and
midsize businesses (SMBs), 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
of IT research firm Intelligent Data Corp.’s imaging/printing document
solutions and SMB group and co-author of the firm’s “Worldwide U.S. and
Outsourced Print and Document Services, 2010-2014 Forecast and
Analysis” report, which was released in Sept. 2010.

“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 of HP’s imaging and printing
group. “We’re reinforcing our commitment to our channel partners by
bringing them a level of technology and experience that is
unprecedented in the industry.”

HP also held its annual global Imaging and Printing Conference in
Shanghai and announced several new innovations, collaborations, apps
and solutions for all types of users, from consumers and SMBs,
enterprise organizations and graphic arts customers. The company also
announced that customer adoption of its cloud-enabled, web-connected
print technologies has reached the mainstream, with more than 10
million printers sold to date.

The Officejet Pro 8600 e-All-in-One series and Officejet Pro 8100
ePrinter enable printing from virtually anywhere when using mobile
devices with HP ePrint and are enhanced with new inks, which resist
highlighter-pen smearing, two-sided borderless printing and cloud
solutions. HP is rolling out HP Partner Managed Print Services, the
first of several channel-enabled MPS offerings that HP plans to launch
over the next year. In addition, HP has added several Document
Solutions – including Access Control Express, HP and Nuance eCopy
ShareScan and HP and Capella FormPort to its portfolio.