Hp has given a decisive acceleration to the development of hybrid work solutions thanks to the acquisition of Poly. The company born from the merger of the activities of Plantronics e you Polycom in 2019 it was recognized in a transaction with a total value of 3.3 billion dollars, which provides for the payment of $ 40 per share. The take-over will be financed with a combination of available liquidity and new debt.
Poly He takes care of video conferencing solutions, cameras, headsets, voice and software, an industry that is experiencing strong demand following the adoption of the hybrid work by many companies. Enabling devices are necessary not only for working from home, but also for the reconfiguration of offices that no longer have fixed workstations and make extensive use of meeting rooms. The forecasts speak of a demand that should triple by 2024.
Hp expects to be able to achieve synergies for 500 million dollars by 2025 and to accelerate revenue growth of Poly yet Cagr (compounded average growth rate) of approximately 15% in the three years following the close of the transaction, scheduled for the end of 2022. HP also expects the transaction to improve Poly’s operating margins by approximately six percentage points compared to at current levels by 2025, thanks to efficiency improvements in the supply chainin production and overheads.
“The strong growth of hybrid work creates a unique opportunity to redefine the way work is done,” he says Henry Lords, president and chief executive officer of Hp – The combination of HP and Poly creates a leading portfolio of hybrid work solutions in large and growing markets. Poly’s strong technology and highly skilled workforce will help drive profitable long-term growth as we continue to build stronger HP. “
Devices represent a segment from 110 billion dollars, growing 9% annually, driven by the need for more engaging experiences. Workforce solutions, on the other hand, boast a turnover of $ 120 billion, growing 8% annually, driven by investments in digital services made by companies to configure, manage and protect more distributed IT ecosystems.
“I am thrilled with the opportunity that the acquisition by HP represents for Poly and for its employees, partners and customers – he adds. Dave Shull, president and chief executive officer of Poly – The combination of the two companies offers us the opportunity to achieve economies of scale, reaching new markets and channels, enhancing our innovation with a partner who thinks alike. This transaction offers attractive and certain value for our shareholders and speaks to the hard work our teams have done to become a recognized leader in helping companies around the world meet the challenges of a profound and in some ways dramatic change in the way where people work “.