Shares of videoconferencing technology maker Polycom (PLCM) are up $1.34, or 2%, at $58.75, after the company this morning said it would purchase from Hewlett-Packard (HPQ) the company’s “visual computing” assets for $89 million, to add to Polycom’s unified communications business.
The HP products have not been part of the main segments of HP’s business — the personal systems group, services, enterprise, software, and imaging and printing. Instead, they have been contained within the segment of the business dubbed “Corporate Investments,” which also contains the company’s networking equipment products, and its Palm computer assets.
Polycom will also serve as an “exclusive partner” to HP for “telepresence” and “unified communications.” Polycom will also provide video applications for the forthcoming WebOS-based devices HP is developing from its Palm acquisition. Those devices include the TouchPad tablet computer that many expect will go on sale in coming weeks.
Polycom said the deal would be “slightly accretive” to its earnings immediately upon closing the deal.
HP shares are down 42 cents, or 1%, at $36.96.
Article courtesy of Tech Trader Daily