HP acquires Poly(Plantronics)

HP announced that it has agreed to acquire Poly (formerly Plantronics) for a total of $3.3 billion, including the company’s net debt. HP believes that the acquisition will accelerate its growth strategies and benefit from seizing industry opportunities in hybrid working solutions.

Acquisition to be completed by the end of the year

Polly will help HP grow in the peripherals and workforce solutions markets. Peripherals offer a market of 110 billion dollars with 9% growth year on year, while establishing and managing the ecosystem in information technologies offers a market width of 120 billion dollars with 8% year-on-year growth.

HP CEO Enrique Lores: “The rise of the hybrid office creates a once-in-a-generation opportunity to redefine the way work is done. Combining HP and Poly creates a leading portfolio of hybrid business solutions in large and growing markets “Poly’s powerful technology, complementary market penetration and talented team will help us sustain long-term profitable growth as we continue to build stronger HP.” said.

HP plans the acquisition to take place by the end of the 2022 calendar, after conditions such as Poly shareholder approval and required regulatory clearances are met.