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HP Buys Poly in $3.3 Billion Remote-Work Gear Deal

  • The deal comes as HP looks to diversify beyond laptops
  • HP aims to help Poly meet supply chain challenges with scale
The HP Inc. logo with the backdrop of office buildings at Nehru Place IT Market in New Delhi, India, on Sunday, Dec. 12, 2021. 

The HP Inc. logo with the backdrop of office buildings at Nehru Place IT Market in New Delhi, India, on Sunday, Dec. 12, 2021. 

Photographer: Anindito Mukherjee/Bloomberg
Corrected

HP Inc. has agreed to buy Poly, formerly known as Plantronics Inc., in a $3.3 billion deal that will help the laptop-maker further capitalize on the pivot to hybrid work.

The all-cash transaction gives Poly’s shareholders $40 a share, a 53% premium to its closing share price Friday, the two companies said in a statement Monday. The $3.3 billion price tag refers to Poly’s enterprise value, which includes debt.