Earlier today, HP Inc. (HP) announced the completion of its acquisition of Poly (see press release) as an all-cash transaction of $40 per share and a total enterprise value of ~ $3.3 billion, including Poly’s net debt.
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Poly CEO Dave Shull will join HP as President of a newly formed organization within the company dubbed “Workforce Services & Solutions.” In this new role, Shull will join HP’s executive leadership team and will report to HP President and CEO Enrique Lores.
We’re pleased to see Shull taking a significant role at HP (vs. acting as a consultant or advisor for a short period) for numerous reasons. First, this provides the Poly team with some degree of continuity. Second, it demonstrates HP’s commitment to workforce solutions – including video and headsets.
Andy Rhodes, an ex-Dell executive and 4-year veteran of HP Inc., has been named the General Manager of the Hybrid Work Solutions and Peripherals (meaning the HP-Poly portfolio).
Now that the ink (HP ink?) is on paper (printed on an HP printer?), what does this mean for Poly, Poly’s channel partners, Poly customers, and HP?