POLY - HP to acquire Poly for $40/share for enhancing Peripherals and workforce solutions businesses

HP (NYSE:HPQ) has announced an agreement to acquire Poly (NYSE:POLY) in an all-cash transaction for $40/share leading to a total enterprise value of $3.3B, including Poly's net debt. Through the acquisition, HP seeks to create a more growth-oriented portfolio, further strengthen its industry opportunity in hybrid work solutions, and position the company for long-term sustainable growth and value creation. "The rise of the hybrid office creates a once-in-a-generation opportunity to redefine the way work gets done. 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," President and CEO Enrique Lores commented. Workforce solutions represent a $120B segment opportunity that is growing 8% annually, as companies invest in digital services to set up, manage, and secure more distributed IT ecosystem. HP expects the transaction to be immediately accretive mainly in its peripherals and workforce solutions businesses; and also in HP's revenue

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HP to acquire Poly for $40/share for enhancing Peripherals and workforce solutions businesses