Apogee: europe's leading multi-brand provider of managed workplace services

Apogee is a subsidiary of HP Inc., one of the world's most renowned and industry-leading technology companies. As Europe's leading multi-brand provider of managed workplace services, Apogee offers access to the latest innovations across competing brands in the sector, providing the perfect solution for organizations. With over 24 locations in the UK, more than 200 engineers in the field daily, and a customer satisfaction rate of 92%, Apogee is committed to delivering exceptional services to its clients.

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Acquisition of Apogee by HP Inc.

On August 1, 2018, HP Inc. announced its definitive agreement to acquire Apogee Corporation, Europe's largest independent provider of print, outsourced services, and document and process technology. The transaction valued Apogee at £380M.

This acquisition aligns with HP's strategy to disrupt the $55 billion A3 copier market and enhance its A3 and A4 product portfolio. HP aims to build differentiated solutions and tools to expand its Managed Print Services (MPS) and invest in its direct and indirect go-to-market (GTM) capabilities. The acquisition of Apogee allows HP to access increased profit pools from higher margin services.

Enrique Lores, President of HP Imaging and Print, stated, the apogee acquisition extends hp's print leadership by boldly leveraging the industry shift to contractual sales. we're augmenting our go-to-market and enhancing our ability to deliver the services necessary to win in the profitable contractual market. this deal complements our broader channel strategy, and hp remains committed to building our business through our best-in-class partner program.

HP has been actively investing in the A3 business, including the acquisition of Samsung's printer business and the launch of a portfolio of superior A3 and A4 multi-function printers. The Apogee acquisition expands HP's services portfolio in contractual office printing and MPS categories, where solutions are increasingly important for small and medium businesses (SMBs).

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Frequently Asked Questions

Q: Why is HP acquiring Apogee?

A: Apogee is Europe's largest independent provider of print, outsourced services, and document and process technology. The acquisition allows HP to enhance its presence in the contractual printing market and grow its managed print service business.

Q: How does this acquisition advance HP's contractual print strategy?

A: The acquisition is in line with HP's strategy to increase its presence in contractual business models in office printing, with A3 representing a significant growth opportunity. Apogee's capabilities in contractual printing solutions and services, tailored for SMBs and mid-market customers, will contribute to HP's growth in this market.

Q: What are the synergies from the transaction?

A: Apogee brings strong capabilities in contractual printing solutions and services, while HP provides best-in-class products and technology across both A3 and ATogether, they can deliver greater value to customers and generate more contractual hardware, supplies, and services revenue over time.

Q: How does this acquisition complement HP's partner-first strategy?

A: HP has a comprehensive channel program, and the acquisition of Apogee aligns with its partner-first strategy. Apogee will operate as an independent subsidiary with access to the same tools and programs as any other premium partner.

Q: What is Apogee's financial profile?

A: In calendar 2017, Apogee reported U.K. GAAP revenue of £208M and EBITDA of £30M. The company has a strong track record of growth.

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Q: What impact will Apogee have on HP's financial results?

A: The transaction is expected to close by the end of calendar year 2018, pending regulatory review and other customary closing conditions. Apogee's results will be consolidated within HP's Print segment, and the deal is expected to be accretive by approximately a penny on a non-GAAP basis in the first full year after close.

Apogee's Commitment to Higher Education

Apogee also serves over one million students at more than 350 colleges and universities across the US. With a 98% customer satisfaction rate, 96% customer retention rate, and a world-class Net Promoter Score of 71, Apogee is dedicated to providing exceptional services to higher education institutions.

Apogee understands the unique needs of educational institutions and proudly supports their mission by offering tailored solutions and services. With Apogee, colleges and universities can rely on reliable and efficient managed workplace services that enhance the student experience.

Apogee's commitment to higher education extends beyond technology solutions. The company understands the importance of school spirit and proudly wears the colors of the institutions it serves. By partnering with Apogee, colleges and universities can benefit from a trusted and dedicated provider of managed workplace services.

As Europe's leading multi-brand provider of managed workplace services, Apogee brings expertise and innovative solutions to organizations across various sectors. With the acquisition by HP Inc., Apogee's capabilities are further enhanced, allowing them to disrupt the A3 copier market and expand their managed print service business. Whether it's through contractual printing solutions or serving the unique needs of higher education institutions, Apogee remains committed to delivering exceptional services and driving success for its clients.

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