HP agrees to buy Poly for $3.3bn in cash in 'once-in-a-generation opportunity' to redefine hybrid working portfolio

HP Inc has issued a statement confirming it has agreed to buy video conference solutions vendor Poly in an all-cash transaction worth $3.3bn. HP will pay $40 per share with $1.7bn, and also take on Poly's net debt. HP CEO Enrique Lores said the rationale for the purchase is to expand HP's portfolio to benefit from changes in hybrid IT procurement in what he calls a "once-in-a-generation opportunity to redefine the way work gets done". "The rise of the hybrid office creates a once-in-a-generation...