In a surprise move, Hewlett Packard announced a definitive agreement to acquire Poly, a vendor of workplace collaboration solutions for $3.3B in cash, which is inclusive of about $1.6B in debt.

This marks the end of an era for Poly, formerly Polycom, which was one of the pioneers of videoconferencing. The current Poly company is a combination Polycom business and Plantronics, which acquired the video vendor in 2018. Later that year, Logitech attempted to purchase Poly, but the deal fell apart at the 11th hour.

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Hewlett Packard Buys Poly To Address Hybrid Work Requirements