HP completes Poly acquisition in $3.3 billion deal

HP completed the deal in a cash transaction of $40 per share, implying a total investment of about $3.3 billion, including Poly’s net debt.

THE HP Inc finished the purchase of Poly, a leading company in the segment of solutions for collaboration in the work environment. With the agreement, HP intends to create a portfolio that will drive the group’s growth, enhancing its position in the hybrid work solutions industry and generating sustainable long-term growth.

HP completed the deal in a cash transaction of $40 per share, implying a total investment of around US$ 3.3 billion, including Poly’s net debt. The transaction was financed by a combination of cash and new debt.

The merger between HP and Poly comes at a time when companies and their employees are focused on finding new and better ways of working and collaborating within the hybrid operating model. Approximately 75% of office workers have invested in improving workstations in their homes.

“Today is a historic day for our industry with the confirmation of the union of two iconic companies that have innovated from the essence of hybrid work,” he said. Enrique Lores, President and CEO of HP. “Poly brings with it incredibly strong talent, differentiated technology and a go-to-market (GTM) system that we believe will strengthen our position in large and emerging markets. Together, we will have countless opportunities to innovate and grow as we build a stronger HP,” he added.

As a leading player in the videoconferencing, cameras, headsets, voice and software solutions market, Poly will give HP customers the ability to create equity between remote and face-to-face experiences. The unified enterprises will offer a complete catalog of devices, software and digital services to create unique professional experiences, increasing productivity and giving their customers better visibility, insights, security and manageability across all hybrid IT environments.

Source: Startup