HP Inc. (HPQ) announced that it has signed a definitive agreement to acquire the business for the production of Samsung Electronics printers, Reuters reports citing Seoul Economic Daily. According to HP, the amount of the transaction is $ 1.05 billion. (Compared to $ 1.8 billion in Seoul Economic Daily material).

The transaction is expected to be completed within 12 months after obtaining the necessary approvals from regulators and perform other customary conditions of transactions.

According to the reached agreement, HP will invest in $ 100-300 mln in equity through the purchase of shares on the open market.

HPQ shares fell in premarket trading to $ 13.66 (-2.05%).