HP acquires Pioneer Plantronics audio equipment for $1.7 billion

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 HP acquires Pioneer Plantronics audio equipment for $1.7 billion

Hewlett-Packard Inc., better known as HP, has acquired Plantronics, the audio and video device maker now called Poly, for $1.7 billion to $3.3 billion including fees.

Reuters reported that the acquisition comes after HP decided to leverage its "integrated performance" offering, which required more devices such as headsets and video conferencing equipment.

The clerk says:

[The company] sees the future of the business in supporting employees who work half from home and half in the office, and they see they're getting a very Polly phone desk for that reason.

HP is offering $40 for some of Poly's stock, which offers about 53% value for the stock's closing price. HP CEO Enrique Lores said:

The rise of the hybrid office offers a once-in-a-generation opportunity to completely revamp the process. HP has yet to confirm whether Foley will continue to work as an alternative or detain its CEO. Businesses are expected to close by the end of 2022. The ubiquitous COVID-19 virus has increased demand for integrated services, driving more purchases, including desktop messaging app Slack acquired by Salesforce.com in 2021 for 27 .7 billion.

According to news of the acquisition, shares of Poly rose 49% in pre-opening trading. Upon closing of the transaction, the company is expected to pay a value of $66 million. Plantronics and Polycom products have a long history dating back to the first jet helmets and the Apollo 11 lunar landing missions.

The market is expected to close at the end of this year. The notice says:

HP outlined the $3.3 billion ($40 per share) acquisition to focus on its growth potential and capitalize on positive growth trends in its hybrid operation.

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