HP has made a bid to acquire Poly, a global videoconferencing hardware company known for its high-quality hardware, phones, and headsets. At a price of US$3.3 billion, the acquisition will expand HP’s hybrid workplace solutions—bringing together HP’s expertise with Poly’s industry leading videoconferencing hardware.
As businesses continue to embrace and adopt the hybrid workplace, HP is focused on continually optimising and innovating their solutions. “Combining HP and Poly creates a leading portfolio of hybrid work solutions across large and growing markets,” explained Enrique Lores, HP’s president and chief executive.
Area9 has been providing both Poly and HP technology for many years and we’re excited to see these two industry leaders come together to build an even better hybrid workplace portfolio. It means we’ll be able to offer our customers the new and innovative solutions these two powerhouse tech brands develop together.
“I am thrilled about the opportunity this represents for Poly, our employees, partners and customers,” Poly CEO, Dave Shull, said. “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.”
So, when will the union be official? HP has reported that the acquisition is expected to be complete by the end of 2022. Stay tuned, we’ll have more updates to come.