It’s been two years companies are trying new working modes. Though there was only the Work From Home model, companies are slowly moving towards the hybrid model, the combination of Work From Home and Work From Office. In both cases, the workforce needs the best communication solutions alongside the best hardware and machines. HP Inc. is already in a good position in the PC and accessories market, however, to enter into the business communication solution market it is acquiring Poly.
In case you are now aware, Poly is a global name for providing quality business communication solutions with its webcams, headsets, conference phones, business phones, and software. Most importantly, Poly is one of the experienced players in this field.
The acquisition of Ploy will help HP to design and build a smooth and secure environment for the Hybrid or WFH workforce. And obviously, it’s the gateway to take a lead in the hybrid work solution market.
The acquisition deal has been finalised with a $40/share cost, which is a total of $3.3 billion inclusive of Poly’s net debt. This deal is expected to close by the end of 2022, post the Poly stockholder approvals, regulatory clearances, and other official formalities.
“The rise of the hybrid office creates a once-in-a-generation opportunity to redefine the way work gets done,” said Enrique Lores, President and CEO of HP. “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.”
Dave Shull, Poly CEO and President, added: “I am thrilled about the opportunity this represents for Poly, our employees, partners and customers. The combination gives us an opportunity to dramatically scale, reaching new markets and channels, supercharging our innovation with a like-minded partner. This transaction offers compelling and certain value for our shareholders and speaks to the hard work done by our teams to become a recognized leader in helping businesses everywhere meet the challenges of a generational disruption in the way people work.”
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