Disclaimer: We may earn a commission if you make any purchase by clicking our links. Please see our detailed guide here.

Follow us on:

Google News

HP Acquires Hybrid Work Solutions Provider Poly for $3.3 Bn

Rahul Bhagat
Rahul Bhagat
Rahul Bhagat is a Digital Marketer and strategist with more than 7 years of experience in Marketing, SEO, Analytics, Marketing Automation and more.

Join the Opinion Leaders Network

Join the Techgenyz Opinion Leaders Network today and become part of a vibrant community of change-makers. Together, we can create a brighter future by shaping opinions, driving conversations, and transforming ideas into reality.

PC and printer major HP Inc has acquired Poly, a leading global provider of workplace collaboration solutions, in an all-cash transaction of $3.3 billion, including Poly’s net debt.

Poly (formerly Plantronics) is a leader in video conferencing solutions, cameras, headsets, voice, and software. The acquisition will help drive the growth and scale of HP’s peripherals and workforce solutions businesses, HP said in a statement late on Monday.

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, – Enrique Lores, President, and CEO of HP.

Peripherals represent a $110 billion segment opportunity growing 9 percent annually, driven by the need for more immersive experiences.

Workforce solutions represent a $120 billion segment opportunity that is growing 8 percent annually, as companies invest in digital services to set up, manage, and secure more distributed IT ecosystems.

Poly’s devices, software, and services, combined with HP’s strengths across compute, device management, and security, create a robust portfolio of hybrid meeting solutions, said the company.

This transaction offers compelling and certain value for our shareholders and speaks of the hard work done by our teams to become a recognised leader in helping businesses everywhere meet the challenges of a generational disruption in the way people work – Dave Shull, Poly CEO and President.

The transaction is expected to close by the end of the calendar year 2022.

“Bringing the Poly and HP offerings together will unlock new opportunities to partner with Zoom and turn any space into a hub for dynamic video collaboration,” said Eric Yuan, Founder, and CEO of Zoom.


Partner With Us

Digital advertising offers a way for your business to reach out and make much-needed connections with your audience in a meaningful way. Advertising on Techgenyz will help you build brand awareness, increase website traffic, generate qualified leads, and grow your business.

Power Your Business

Solutions you need to super charge your business and drive growth

More from this topic