hp has confirmed the buy from the manufacturer of video conferencing products for companiesand provider of audio and video solutions Poly (the name that Plantronics adopted after buying Polycom), for which it will pay 1,700 million dollars in cash in addition to assuming its debt. The company has offered 40 dollars for each Poly share, 53% more than what they were worth at the last closing of market trading. But the final figure of the operation is not that, since it will also take care of its debt, which makes the purchase price rise to 3,300 million dollars.
Everything indicates that this operation, which is expected to close by the end of 2022, will reinforce HP’s portfolio of products and solutions aimed at reinforcing hybrid work. With Poly, HP Business Peripherals and Solutions will grow and scale more easily. As stated by the company in the statement confirming the purchase of Poly, the business solutions market «represents a $120 billion opportunity segment growing 9% annually, driven by the need for more immersive experiences«.
Poly is a company dedicated to video conferencing solutions, conferencing webcams and cameras, and headsets, as well as software and voice applications. Its combination with HP solutions will allow HP to offer a complete ecosystem of devices, software and digital services for video conferencing and communication and collaboration experiences in hybrid work formats, as well as in telework.
The CEO and President of HP, Enrique Loreshas highlighted that «the rise of the hybrid office creates a unique opportunity to redefine the way people work. HP’s combination with Poly creates a leading portfolio of hybrid work solutions in large and growing markets. Poly’s strong technology, complementary marketing strategy and talented team will help deliver long-term profitable growth as we continue to build a strong HP«.
For its part, Dave Shull, CEO and President of Polyhas stressed that «The combination gives us the opportunity to grow exponentially, reaching new channels and markets, giving a great boost to our innovation with a partner with a similar mentality. This transaction will deliver significant and tangible value to our shareholders and is evidence of the hard work put in by our teams to become a recognized leader in helping companies around the world address the challenges of a generational shift in the way they work. people«.
