Tech giant targets growth in hybrid workforce

 

HP Inc has made a significant move in the workplace peripherals category by agreeing to acquire audio and video-conference firm Poly for A$4.4 billion.

 

The print and PC giant said the acquisition accelerates its strategy “to create a more growth-oriented portfolio, further strengthens its industry opportunity in hybrid work solutions, and positions the company for long-term sustainable growth and value creation”.

 

“The rise of the hybrid office creates a once-in-a-generation opportunity to redefine the way work gets done,” said HP CEO Enrique Lores. “Combining HP and Poly creates a leading portfolio of hybrid work solutions across large and growing markets.”

 

Poly is set to help drive the growth and scale of HP’s peripherals and workforce solutions businesses. Respectively, these are seen as US$110 billion and US$120 billion opportunities by 2024 and are growing in the strong single digits.

 

Within these segments, meeting room solutions and personal audio and video for at-home workers have a combined addressable market of around $13 billion.

 

Poly, based in California, employs almost 6000 staff in 32 countries.

 

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