According to an article published by HP Incorporation on its official website, a definitive agreement to acquire Poly has been signed.
Rich Technology Group has been covering Poly’s VoIP services details and specifications of its IP Phones for a long time. However, the most recent news that came out of the VoIP Company is that; they are getting acquired by HP Incorporation. For Rich Technology Group, this news came as a surprise as there were no rumors or speculations about such a thing going on. VOIP Supply got in touch with RTG to break this news and RTG confirmed it from its connections at Vonage, Nextiva, and RingCentral.
According to an article published by HP Incorporation on its official website, a definitive agreement to acquire Poly has been signed. Poly, which is a leading global provider of workplace collaboration solutions, has a total enterprise value of $3.3 billion inclusive of Poly’s net debt. HP has targeted a growth-oriented portfolio to strengthen this industry opportunity along with growth and value creation.
Recently, HP’s CEO Enrique Lores stated “Combining HP and Poly creates a leading portfolio of hybrid work solutions across large and growing markets.”
Who is Poly?
Poly is a leading global provider of workplace collaboration solutions.
Who is HP?
Hewlett-Packard Company, American manufacturer of software and computer services.
Reason for HP’s acquisition of Poly-HP Acquires Poly for $3.3 Billion
HP to acquire poly for $3.3B. HP Inc. announced its intention to acquire Poly, Hear is what Sunita and I think about this in today's RTG news update!
Rich Technology Groups sells contracts to different businesses every day. It also assists businesses in figuring out which provider is the best fit for them. It is no secret that Poly has had major chip shortages that have caused them major stock problems in 2021. Although it got a little better in 2022, it still is a problem. Because of this, a lot of providers had to stop selling Poly until further notice and were starting to recommend other suitable options. HP’s acquisition of Poly can solve this issue as they can work together to manage the hardware effectively.
Poly has always been giving free entry-level phones in their VoIP package but still, a lot of providers tend to shift towards other options. To handle this shift, HP can provide great solutions. According to our knowledge, HP develops its own chips and hardware for its laptops and related tech and probably has really good connections in China to handle the manufacturing and logistics.
Poly going under acquisition with HP also eliminates possibly indefinitely their chip shortage issues. As Poly must have faced financial issues in the last two years because of this shortage, they needed to find a way to get better and fast access to chips and hardware.
Read the Press Release Details HP Acquires Poly for $3.3 Billion here:
Impacts of HP’s acquisition of Poly
HP Incorporation’s acquisition with Poly is going to fix this chip shortage problem indefinitely. One of the biggest concerns most people and service providers are worried about is that Poly may change its brand. However, if HP is smart; it should let Poly keep its brand as people love it and share a strong affection with it.
People have never complained about Poly phones except for their shortage or unavailability. HP has essentially got unlimited funds so it is expected that Poly will improve its marketing too. But the actual Poly Phone, Price, and Brand changes are not expected.
A Few Concerns
One major concern is that HP computers have not been able to become people’s first choice. HP’s competitor computer companies always remained on top compared to HP. Although this acquisition can be beneficial for Poly; Rich Technology Group does not see the need why; HP would feel the need to acquire Poly.
According to RTG’s understanding, a better idea to handle this Poly division of HP would be for HP to help Poly with the funds and hardware requirements but not interfere with the machinery should be accepted. Poly has been making high-quality hardware so; let them do this and only provide financial support.
This methodology will keep the same essence of the product i.e. Poly that they already have. If it is going to be merged with some other company; that has not been in the VoIP market; it is expected to be a disaster. As it can take away the essence of the company. Thus, the ideal case would be that HP can be in a parallel form but does not interfere with Poly’s best working processes.
If you like this article or have any concerns regarding Poly’s acquisition, feel free to get in touch with us. Rich Technology Group is open to new perspectives so your comments matter.
Follow Us Online