HP to Acquire Poly
Mar 28, 2022 By MarketDepth
HP Inc. (NYSE: HPQ) has reported a definitive agreement to acquire Poly (NYSE: POLY) in an all-cash transaction for USD 40 per share. This implies a total enterprise value of USD 3.3 Billion, which is inclusive of Poly’s net debt. “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.”
“I am thrilled about the opportunity this represents for Poly, our employees, partners and customers. The combination gives us an opportunity to dramatically scale, reaching new markets and channels, supercharging our innovation with a like-minded partner. This transaction offers compelling and certain value for our shareholders and speaks to the hard work done by our teams to become a recognized leader in helping businesses everywhere meet the challenges of a generational disruption in the way people work.”Dave Shull, Poly CEO and President
This transaction is expected to close by the end of 2022, subject to Poly stockholder approved, regulatory clearances and satisfaction of other customary closing conditions.