3/28/2022, 2:00 PM (Source: TeleTrader)
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HP to acquire Poly for $3.3B

American information technology giant Hewlett-Packard HP has sealed an agreement to acquire communications equipment company Poly for $40 per share, amounting to a total value of $3.3 billion, the firm announced on Monday.

The move is consistent with HP's plans to establish itself in a business climate with a constantly growing need for hybrid work solutions and to develop a more versatile, long-term-oriented portfolio.

"The rise of the hybrid office creates a once-in-a-generation opportunity to redefine the way work gets done. 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," the company's President and CEO Enrique Lores stated.

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