HP Inc said on Monday it would buy audio and video devices maker Poly for $1.7 billion in cash as it looks to capitalise on the hybrid work led boom in demand for electronic products.
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.
With the global healthcare crisis boosting the need for hybrid work, the market has seen several acquisitions, including business software maker Salesforce.com’s $27.7-billion purchase of workplace messaging app Slack Technologies Inc last year.
Read more: Reuters
