HP takes aim at the hybrid working trend with its purchase of the video and audio equipment specialists Poly. Credit: Poly HP has announced it is acquiring Poly, a company that specializes in video and audio equipment, for a purchase price of $1.7 billion, with a total transaction value of $3.3 billion, including debt. The deal is expected to close by the end of 2022. The acquisition is set to accelerate HP’s foray into the world of hybrid work, coming eight months after the company purchased remote desktop software provider Teradici. Founded in 1990 and originally named Polycom, the company was acquired by headset maker Plantronics in 2019, after which the two newly merged companies rebranded themselves as Poly. Since then, the company has focused on providing enterprise-grade collaboration products, such as meeting room speakers and cameras, webcams, headsets, and software. In a press release announcing the acquisition, HP said the two companies would be coming together to deliver “a complete ecosystem of devices, software and digital services”, all aimed at enhancing the employee experience, increasing workplace productivity and improving hybrid work environments for its enterprise customers. “The rise of the hybrid office creates a once-in-a-generation opportunity to redefine the way work gets done,” said Enrique Lores, president and CEO of HP. “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.” As organizations look to cement their hybrid and remote work policies, technology continues to be a key differentiator between employee work experiences both at home and in the office. It’s not just home workers who are looking to upgrade their equipment. Frost & Sullivan’s State of the Global Video Conferencing Devices Market report found that traditional office spaces are also being reconfigured to support hybrid work and collaboration, with a particular focus being placed on meeting room solutions. As a result, the office meeting room solutions segment is expected to triple by 2024. Related content news analysis Workers with AI skills are getting these pay cash premiums As AI deployments become more critical to digital transformation projects, organizations are struggling to find skilled workers to support the new technology, so they're paying premiums for prospective hires or current employees who obtain the n By Lucas Mearian May 01, 2024 7 mins Generative AI IT Jobs IT Skills news Atlassian Rovo brings AI smarts to enterprise search With Rovo, the company looks to expand existing search capabilities in its products, tapping into documents held in third-party apps and using generative AI to provide a natural language interface. By Matthew Finnegan May 01, 2024 5 mins Atlassian Chatbots Generative AI news Mosyle and Fleet bring new device management options to Apple enterprise Apple's growing enterprise market share is generating tons of opportunity for the company's partners in the device management market. Their approaches reflect the diversity of use. By Jonny Evans May 01, 2024 4 mins Apple Mobile Device Management Mobile Security tip 13 tricks for more efficient Android messaging Save time and communicate more effectively with these easy-to-miss advanced options for Google's Android Messages app. By JR Raphael May 01, 2024 18 mins Smartphones Google Mobile Apps Podcasts Videos Resources Events SUBSCRIBE TO OUR NEWSLETTER From our editors straight to your inbox Get started by entering your email address below. Please enter a valid email address Subscribe