HP to buy Poly in a bid to strengthen hybrid work solutions
The HinduHP has agreed to buy Poly, a global provider of workplace collaboration solutions, in an all-cash transaction valued at $3.3 billion, including debt. The acquisition would accelerate HP’s strategy to create a more growth-oriented portfolio, and further strengthen its industry opportunity in hybrid work solutions, it said in a statement. Together, the firms will deliver a complete ecosystem of devices, software, and digital services, HP said, adding, Poly’s acquisition will help drive the growth and scale of its peripherals and workforce solutions businesses. Peripherals represent a $110 billion segment opportunity growing 9% annually, and workforce solutions represent a $120 billion segment opportunity that is growing 8% annually, HP noted. Besides, traditional office spaces are also being reconfigured to support hybrid work and collaboration, with a focus on meeting room solutions.
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