Thursday, 8 June 2006

HP to Acquire Retail Photo Solutions Provider Silverwire

Hewlett-Packard has agreed to acquire Silverwire Holding AG, a commercial digital photography solutions and software provider with a strong presence in the retail photo market. 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.

The acquisition will expand HP into new markets such as retail photo printing and services.

"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.

HP expects the transition to be complete 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.