Telepresence specialist Polycom (Nasdaq: PLCM) has acquired HP's (NYSE: HPQ) videoconference technology Visual Collaboration, including the Halo Products and managed services business, Polycom reported without revealing the purchase price.
Polycom's goal is to strengthen its position in the videoconference and unified communications (UC) segments, while HP will focus on connectivity and cloud computing.
The acquisition includes a strategic alliance whereby HP will sell Polycom unified communications products. The intention is to increase the competitiveness of products, considering Cisco recently bought Norwegian telepresence company Tandberg, according to market observers.
"Customers will benefit from this transaction and alliance because they will receive the focus of two world-class technology companies through greater service and product opportunities," said Shane Robison, HP executive VP and chief strategy and technology officer.
The deal is expected to conclude by the third quarter, pending regulatory approval.