HP Acquires Retail Photo Solutions Provider Silverwire

HP Acquires Retail Photo Solutions Provider Silverwire

HP today announced it has signed a definitive agreement to acquire Silverwire Holding AG, a commercial digital photography solutions and software provider with a strong presence in the retail photo market. Headquartered in Zug, Switzerland, Silverwire currently has more than 23,000 photo kiosk licenses and has customers in 30 countries. Financial terms of the transaction were not disclosed.

In the retail photo printing market specifically, 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. The acquisition furthers HP’s strategy to extend its core printing competencies into new markets such as retail photo printing and services. Furthermore, it will enable HP to offer retailers a more efficient photo center with expanded remote management and networking capabilities and a more seamless experience for their customers.

“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 2006. Following completion, the business will be integrated into the Retail Photo Solutions Group within the Imaging and Printing Group at HP.

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