HP Acquires Silverwire
PALO ALTO, Calif., June 12, 2006 -- HP announced it will acquire Silverwire Holding AG, a commercial digital photography solutions and software provider. Financial terms of the transaction were not disclosed.
Headquartered in Zug, Switzerland, Silverwire currently has more than 23,000 photo kiosk licenses and has customers in 30 countries. In the retail photo printing market, Silverwire’s software serves as the “connector” of the photo center, linking a retailer’s photo assets or equipment to allow for a more efficient workflow, HP said.
“We expect that this acquisition will allow HP to compete more vigorously in the retail photo printing market and position us to become a leading provider of digital integration services worldwide,” said Vyomesh Joshi, executive vice president, Imaging and Printing Group, HP. “Silverwire’s established retail photo integration capabilities and existing customer and channel relationships will broaden the scope of digital photography solutions that HP can bring to market.”
The transaction is subject to certain closing conditions and is expected to be completed by the end of September. Following completion, the business will be integrated into the Retail Photo Solutions Group within the Imaging and Printing Group at HP, the company said. For more information, visit: www.hp.com
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