HP Inc. Completes Acquisition of Teradici

Rhea-AI Summary

HP Inc. has completed the acquisition of Teradici Corporation, enhancing its remote services for hybrid work. The deal aims to deliver new software-enabled digital services and computing models, according to HP's President of Personal Systems, Alex Cho. The integration will allow customers to access Teradici Cloud Access Software and ZCentral Remote Boost through a single subscription, available by year-end. This acquisition supports HP's strategy to create innovative computing experiences that cater to evolving customer needs.

Positive

• Acquisition of Teradici enhances HP's remote services for hybrid work.
• New software-enabled digital services expected to drive profitable growth.
• Single subscription model integrating Teradici Cloud Access Software and ZCentral Remote Boost will be available by year-end.

Negative

• None.

Transaction to help enhance HP’s remote services and solutions tailored for hybrid work

PALO ALTO, Calif., Oct. 04, 2021 (GLOBE NEWSWIRE) -- HP Inc. (NYSE: HPQ) today announced the completion of its acquisition of Teradici Corporation, a global innovator in remote computing software that enables users to securely access high-performance computing from any PC, Chromebook, or tablet.

The acquisition will enhance HP’s capabilities in the Personal Systems category by delivering new compute models and software-enabled digital services tailored for hybrid work.

“This deal supports our broader strategy to innovate at the heart of hybrid by creating new computing experiences, services and subscriptions that meet changing customer needs and drive profitable growth,” said Alex Cho, president, Personal Systems, HP Inc. “We are delighted to officially welcome the incredibly talented Teradici team to HP.”

The acquisition enables HP to enhance its remote services and solutions by offering customers a single subscription to Teradici Cloud Access Software and ZCentral Remote Boost. The integrated subscription will be available for purchase by the end of the calendar year.

About HP
HP Inc. creates technology that makes life better for everyone, everywhere. Through our product and service portfolio of personal systems, printers, and 3D printing solutions, we engineer experiences that amaze. More information about HP Inc. is available at http://www.hp.com.

Forward-Looking Statements
This press release may contain forward-looking statements within the meaning of the federal securities laws. Any such statements involve risks, uncertainties, and assumptions. If such risks or uncertainties materialize or such assumptions prove incorrect, the results of HP Inc. (“HP”) and its consolidated subsidiaries could differ materially from those expressed or implied by such forward-looking statements and assumptions. All statements other than statements of historical fact are statements that could be deemed forward-looking statements, including any statements of the plans, strategies, and objectives of HP for future operations; any statements of expectation or belief; and any statements of assumptions underlying any of the foregoing. Risks, uncertainties, and assumptions include the possibility that expected benefits may not materialize as expected; the possibility that the parties are unable to successfully implement integration strategies; risks related to hiring and retaining key employees; and other risks that are described in HP’s Annual Report on Form 10-K for its fiscal year ended October 31, 2020, and HP’s other filings with the Securities and Exchange Commission. HP assumes no obligation and does not intend to update these forward-looking statements.

HP’s Investor Relations website at investor.hp.com contains a significant amount of information about HP, including financial and other information for investors. HP encourages investors to visit its website from time to time, as information is updated, and new information is posted.

Contact for media:
mediarelations@hp.com

 

FAQ

What is the significance of HPQ's acquisition of Teradici Corporation?

The acquisition enhances HP's capabilities in remote services for hybrid work, integrating innovative software solutions.

When will HPQ's new subscription service for Teradici be available?

The integrated subscription will be available for purchase by the end of the calendar year.

How does the acquisition of Teradici impact HPQ's business strategy?

It supports HP's strategy to innovate in hybrid computing and meet changing customer needs.

What products will HPQ launch as a result of acquiring Teradici?

HPQ will offer a single subscription that includes Teradici Cloud Access Software and ZCentral Remote Boost.

What are the potential benefits of HPQ's acquisition of Teradici for investors?

The acquisition could drive profitable growth through enhanced service offerings in the growing hybrid work market.