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 Apple reportedly cuts Vision Pro production due to low demand Apple analyst Ming-Chi Kuo claims Apple is putting the brakes on production of the spatial computing headset due to low demand; the Vision Pro launched in the US earlier this year. By Matthew Finnegan Apr 25, 2024 4 mins Augmented Reality Apple Virtual Reality feature Windows 11: A guide to the updates Here’s what you need to know about the latest updates to Windows 11 as they’re released from Microsoft. Now updated for KB506980 Preview, released on April 23, 2024. By Preston Gralla Apr 25, 2024 59 mins Small and Medium Business Windows 11 Windows feature Windows 10: A guide to the updates Here's what you need to know about each update to the current version of Windows 10 as it's released from Microsoft. Now updated for KB5036979 Preview, released on April 23, 2024. By Preston Gralla Apr 25, 2024 172 mins Small and Medium Business Windows 10 Microsoft opinion The end of non-compete agreements is a tech job earthquake The FTC ruled this week that companies can no longer use non-compete agreements to stop workers from moving from one job to another — and businesses are having fits. By Steven Vaughan-Nichols Apr 25, 2024 5 mins Regulation Government IT Jobs 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