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HP announces “definitive” agreement to acquire Poly

Expected to close by the end of calendar 2022, the transaction is subject to Poly stockholder approval

HP Inc. announced a definitive agreement on March 28, 2022, to acquire Poly, in an all-cash transaction for $40 per share, implying a total enterprise value of $3.3 billion, inclusive of Poly’s net debt. The acquisition is intended to accelerate HP’s strategy to create a more growth-oriented portfolio, further strengthen its industry opportunity in hybrid work solutions, and position the company for long-term sustainable growth and value creation.

Expected to close by the end of calendar 2022, the transaction is subject to Poly stockholder approval, required regulatory clearances, and the satisfaction of other customary closing conditions. HP will finance the transaction through a combination of balance sheet cash and new debt.

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