San Francisco, Aug 29 : Printer and PC important HP Inc on Monday announced the conclusion of the $3.3 billion purchase of Poly which is a top worldwide supplier of workplace collaboration solutions for the workplace.The acquisition is expected to accelerate HP’s strategy to build a an expanding portfolio and further expand its market potential in hybrid solutions for work and help position the new organization to sustain long-term development and growth.
“Poly has incredibly talented talent, differentiated technology and a supplementary go-to market system that we believe will increase our competitiveness in expanding and large market segments,” stated Enrique Lores who is the CEO and President of HP.
The merger of HP and Poly is a sign that both businesses and employees of both companies are focusing on finding ways to collaborate and work in the world of hybrids.
Poly delivers industry-leading video conference solutions including headsets, cameras software and headsets to HP which allows customers to create a sense of meeting equity between people in the room as well as those not.
“Combining Poly and HP is an opportunity for both organizations to win.Additionally, joining the two businesses will provide users with the necessary hardware software, services, and hardware necessary to navigate hybrid workplace experiences today and in the near future,” stated Patrick Moorhead the CEO and chief analyst, Moor Insights & Strategy.
The acquisition of Poly will allow HP to increase its innovation and increase its scale in two of its main growth areas including workforce solutions and peripherals.
Poly CEO Dave Shull will join HP as President, Workforce Services & Solutions beginning on November 1.
Shull will be the leader of the newly created organization that is that will drive an expansive growth strategy across HP’s commercial service business.
Andy Rhodes will run the combined HP-Poly business as the General Manager of Hybrid Work Solutions & Peripherals The company announced the announcement.
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