HP Makes Bet on Hybrid Work With $1.7 Billion Deal

HP Inc. agreed to buy Poly, a maker of workplace communications products, for $1.7 billion in a bet on the rise of hybrid work.

HP will pay $40 cash for each outstanding share of Poly, a premium of more than 50% from its closing price Friday. The companies valued the deal for Poly, formerly known as Plantronics, at $3.3 billion, including debt.

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