Tag: Poly

HP has completed its acquisition of the  videoconferencing giant Poly.

The PC and print vendor completed the deal – first announced in March and valued at $3.3 billion.

HP CEO Enrique Lores said: “It is a historic day for our business as we mark the union of two iconic companies that are innovating at the heart of hybrid work.”

The PC and print vendor expects the move to drum up more hybrid work business as employers look for more at-home videoconferencing solutions. Read more…

HP is buying video conferencing vendor Poly in an all-cash transaction worth $3.3 billion paying $40 per share at $1.7 billion and take on Poly’s net debt.

HP CEO Enrique Lores said the acquisition of the video conferencing, headsets, video and software vendor will mean HP can benefit from the shift towards hybrid working and represents a “once-in-a-generation opportunity to redefine the way work gets done”.

The acquisition will drive growth and scale HP’s peripherals and workforce solutions business, HP says, with the former representing a $110m opportunity growing nine per ent annually and the latter a $120 million opportunity growing at eight percent each year.

“Combining HP and Poly creates a leading portfolio of hybrid work solutions across large and growing markets. Poly’s strong technology, complementary go-to-market, and talented team will help to drive long-term profitable growth as we continue building a stronger HP.” Read more…