• Skip to primary navigation
  • Skip to main content
  • Skip to primary sidebar

Republica Press

Your Business & Political News Source

REPUBLICA PRESS
Your Business & Political News Source

  • Home
  • BUSINESS
  • MONEY
  • POLITICS
  • REAL ESTATE
  • SCIENCE/TECH
  • US
  • WORLD
  • VIDEOS

HP seeks to ride hybrid work boom with $1.7 billion Poly buyout, article with image

by

>>> Don’t Miss Today’s BEST Amazon Deals!<<<<

March 28 (Reuters) – HP Inc (HPQ.N) said on Monday it would buy audio and video devices maker Poly (POLY.N) for $1.7 billion in cash as it looks to capitalise on the hybrid work led boom in demand for electronic products.

Shares in HP, which expects the deal will position it for long-term growth, fell 1.4% in premarket trade.

The company has offered $40 for each share of Poly, formerly known as Plantronics, which represents a premium of about 53% to the stock’s last closing price. Including debt, the deal is valued at $3.3 billion.

Register now for FREE unlimited access to Reuters.com

“The rise of the hybrid office creates a once-in-a-generation opportunity to redefine the way work gets done,” HP Chief Executive Officer Enrique Lores said.

With the global healthcare crisis boosting the need for hybrid work, the market has seen several acquisitions, including business software maker Salesforce.com’s (CRM.N) $27.7-billion purchase of workplace messaging app Slack Technologies Inc last year. read more

Poly, whose shares rose 49% in premarket trade, said it would be required to pay a fee of $66 million if the deal is terminated.

The transaction is expected to close by the end of 2022.

Register now for FREE unlimited access to Reuters.com

Reporting by Tiyashi Datta in Bengaluru; Editing by Aditya Soni and Vinay Dwivedi

Our Standards: The Thomson Reuters Trust Principles.

View Source

>>> Don’t Miss Today’s BEST Amazon Deals! <<<<

Filed Under: BUSINESS Tagged With: Business, Healthcare, Pay, Shares, Software, trade

Primary Sidebar

More to See

RPM Living’s Marketing Team Named Department of the Year for Superior Performance and Talent

AUSTIN, Texas--(BUSINESS WIRE)--As the first multifamily management company to be recognized in the Public Relations and Marketing Excellence Awards, … [Read More...] about RPM Living’s Marketing Team Named Department of the Year for Superior Performance and Talent

These San Francisco homes sold for less than $1 million in October

There have been whispers of cooling housing and rental prices in the San Francisco Bay Area, but that hasn't yet translated into practical, noticeable … [Read More...] about These San Francisco homes sold for less than $1 million in October

Tuesday, November 1. Russia’s War On Ukraine: News And Information From Ukraine

Cars pass in Independence Square at twilight in Kyiv, Ukraine, Monday, Oct. 31, 2022. Rolling ... [+] blackouts are increasing across Ukraine as the … [Read More...] about Tuesday, November 1. Russia’s War On Ukraine: News And Information From Ukraine

Copyright © 2023 · Republica Press · Log in · As an Amazon Associate we earn from qualifying purchases.

Terms and Conditions - Privacy Policy