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 AI chip shortages continue, but there may be an end in sight While GPUs are in high demand, they still need high-performance memory chips for AI apps. The market is tight for both — for now. By Lucas Mearian May 07, 2024 7 mins CPUs and Processors Generative AI Technology Industry feature Windows 11 Insider Previews: What’s in the latest build? Get the latest info on new preview builds of Windows 11 as they roll out to Windows Insiders. Now updated for Build 22635.3570 for the Beta Channel and Build 26120.461 for the Dev channel, both released on May 3, 2024. By Preston Gralla May 07, 2024 252 mins Small and Medium Business Microsoft Windows 11 news analysis 3+ reasons Apple might want to make its own server chips Apple reportedly has a top secret plan to make AI chips for servers to provide generative AI services. By Jonny Evans May 07, 2024 5 mins Apple CPUs and Processors Generative AI opinion GenAI is to data visibility what absolute zero is to a hot summer day Given the plethora of privacy rules already in place in Europe, how are companies with shiny, new, not-understood genAI tools supposed to comply? (Hint: they can’t.) By Evan Schuman May 06, 2024 6 mins Data Privacy GDPR Generative AI 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