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article imageSimpress, a printing service company, will be acquired by Samsung

By Owen Weldon     Feb 1, 2015 in Business
Samsung will be acquiring Simpress, Brazil's largest printing service company. The acquisition will be announced on Monday.
The acquisition will likely not exceed $100 million. The acquisition of Simpress comes as Samsung is looking for ways to stabilize its earnings. Samsung reported a decline in profit, which is a first in three years
According to Korea Times, Simpress has nationwide clients, and Samsung will be able to distribute its printer products via Simpress' network of clients. Simpress can also be delegated to take care of post-sales services, including repairing equipment and maintenance.
An official from Samsung said that the company is expanding its business in Latin America by connecting Samsung's technologies with Simpress' distribution networks. Samsung is trying to expand its presence in the B2B printer industry, more specifically the Latin American region.
Last year Samsung also acquired Quietside, an air conditioning company based in the U.S., and they took over the mobile cloud printer firm, PrinterOn, in a move to develop mobile printing technologies. In November, Samsung acquired Proximal Data, a server-side caching software company in the U.S.
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