[August 01, 2011] Polycom acquires visual collaboration business of Hewlett-Packard (HP) Tweet Aug 01, 2011 (Datamonitor Financial Deals Tracker via COMTEX) -- Polycom, Inc. has acquired the assets of visual collaboration business, including the Halo Products and Managed Services business from Hewlett-Packard Company (HP). Both the companies are based in the US. Polycom is a provider of telepresence, video and voice solutions, while HP is a provider of personal systems, imaging and printing products, and technology solutions. Announcement (June 1, 2011): Polycom has entered into a definitive agreement to acquire the assets of visual collaboration business, including the Halo Products and Managed Services business from HP for $89 million in cash. Morgan Stanley is acting as financial advisor to Polycom. The transaction is expected to close in the third quarter of 2011. Deal Value (US$ Million) 89 Deal Type Acquisition Sub-Category Asset Purchase Deal Status Completed: 2011-07-27 Deal Participants Target (Company) Hewlett-Packard Company - Visual Collaboration Business and Halo Products and Managed Services Business Acquirer (Company) Polycom, Inc. Vendor (Company) Hewlett-Packard Company Deal Rationale The transaction with HP will allow Polycom to expand its services into the high-growth desktop and mobile video conferencing market, helping it balance its traditionally dedicated terminal heavy business. It also allows Polycom to focus on executing strategy in cloud computing and connectivity, while ensuring development of its services business. [ Back To TMCnet.com's Homepage ]