HP is acquiring Poly in an all-cash deal as it looks to offer customers a robust portfolio of hybrid meeting solutions.
The transition to hybrid work is leading businesses to purchase new equipment for both their remote workers and offices which is why HP has announced that it has entered a definitive agreement to acquire Poly. If approved, the all-cash transaction at $40 per share would see HP acquire Poly for $1.7bn though the deal itself is valued at $3.3bn as it also includes Poly’s net debt. While employers and employees alike upgraded their devices and peripherals when working from home during the pandemic, the rise of hybrid work is creating sustained demand for technology that enables seamless collaboration across home and office environments. At the same time, traditional office spaces are being upgraded to better support hybrid work and collaboration with a focus on meeting room solutions. According to a recent study from Frost & Sullivan, of the more than 90m meeting rooms today, less than ten percent have video capability and HP aims to capitalize on this through its acquisition of Poly.
