Tech giant Hewlett Packard has turned to Davis Polk & Wardwell and Ropes & Gray to helm its acquisition, valued at $3.3 billion, of audio and video device maker Poly, which tapped Wilson Sonsini Goodrich & Rosati as legal counsel.
The deal disclosed Monday will allow Palo Alto, California-based HP Inc to capitalize on the growing hybrid-work environment through the use of Santa Cruz-based Poly’s products, including video conferencing solutions, cameras and headsets.
The purchase will allow HP to tap into significant changes in work arrangements as businesses adjust to the pandemic-driven restrictions imposed in many countries that have led to an explosion in the popularity of videoconference technologies and other products designed for the remote workplace, as well as in a wave of deals, acquisitions, and other market adjustments.
Corporate partners Paul Scrivano and Cheryl Chan are leading the deal team for Davis Polk, while M&A partners Sarah Young and Matthew Jacobson are leading Ropes & Gray’s team, according to statements from the law firms.
Poly is the result of a 2018 merger between headset-maker Plantronics Inc and audioconferencing services provider Polycom. The company is expected to benefit from the wider reach capabilities of computer-maker HP, likewise capitalizing on the growth in remote connectivity demand.The company is working with Wilson Sonsini corporate partners Katherine Martin, Martin Korman, Douglas Schnell and Remi Korenblit, the law firm said.
Law firm Skadden, Arps, Meagher & Flom said in a statement it worked on antitrust aspects of the deal, led by partners Steven Sunshine, Frederic Depoortere and Andrew Foster.
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