HP has acquired Poly, a leading global provider of workplace collaboration solutions. The acquisition further accelerates HP’s strategy to create a growth-oriented portfolio, strengthening its opportunity in hybrid work solutions while positioning the company for long-term sustainable growth.
“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.”
Poly is a leader in video conferencing solutions, cameras, headsets, voice, and software. Together, HP and Poly will deliver a complete ecosystem of devices, software, and digital services to create premium employee experiences, improve workforce productivity, and provide enterprise customers with better visibility, insights, security, and manageability across their hybrid IT environments.
“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,” said Dave Shull, Poly CEO and President.
The transaction is expected to close by the end of 2022. Head over to HP’s website to read the full release.