HP completes $3.3B all-cash acquisition of Poly, expects FY23 accretion

HP INC

Deal valued at ~$3.3B including Poly's net debt; $40 per share all-cash.
Expected to be accretive to revenue, non-GAAP operating profit and non-GAAP EPS in FY23.
Poly CEO Dave Shull joins HP as President, Workforce Services & Solutions starting Nov 1.
Andy Rhodes named GM of Hybrid Work Solutions & Peripherals to lead combined business.
Financed through balance sheet cash and new debt.

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