HP has completed its acquisition of Poly, an occasion CEO Enrique Lores calls “a historic day for our business.”
The deal, first announced in March, was an all-cash transaction of $40 per share, valuing Poly at A$4.8 million, including debt.
The addition of Poly will help HP to “drive innovation and scale in two of its key growth areas: peripherals and workforce solutions,” according to the company, who sees peripherals as a A$160 billion segment opportunity, growing 9 per cent annually.
Workforce solutions represent a $120 billion segment opportunity that is growing 8 per cent annually, the company explains.
“This is a historic day for our business as we mark the union of two iconic companies that are innovating at the heart of hybrid work,” said Enrique Lores, President and CEO of HP.
“Poly brings incredibly strong talent, differentiated technology, and a complementary go-to-market system that we believe will further strengthen our position in large and growing markets.
“Together, we will have vast opportunities to innovate for customers and grow our business as we continue building a stronger HP.”
Poly CEO Dave Shull will join HP as President, Workforce Services & Solutions, starting November 1.
HP has also filled the gap left by former managing director for Australia and New Zealand Michael Boyle, following his promotion to a global executive role last month.
Brad Pulford (pictured above) has been appointed the new managing director for Australia and New Zealand, and will relocate from Johannesburg to commence his new role, from November 1.
He previously led HP’s Africa business since 2020.
“Brad is a highly accomplished global executive, with a passion for technology advancement and business transformation,” HP Asia MD TC Ng said.
“Anyone that has worked with Brad knows him as a very effective leader who embodies the HP values and we look forward to welcoming him and his family to the A/NZ business in the coming months.”
