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.