HP Inc (NYSE:HPQ) announced Wednesday the acquisition of Vyopta for an undisclosed price.
Vyopta is an Austin, Texas-based provider of collaboration management solutions. It offers analytics and monitoring for extensive, unified communications and collaboration (UC) networks.
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Vyopta brings vast expertise and infrastructure to turbocharge the development of HP's Workforce Experience Platform.
The HP Workforce Experience Platform offers customers control over their digital ecosystem from a single pane of glass.
This acquisition will accelerate HP's existing platform strategy and expand its space and application management capabilities.
HP held $2.8 billion in cash and equivalents as of July 31. The company's topline grew by 2.4% to $13.52 billion in the third quarter, beating the analyst consensus of $13.38 billion. Adjusted operating margin contracted 70 bps to 8.1%.
Bank of America Securities analyst Wamsi Mohan projected upside from cost cuts, Juniper-related synergies, and AI optionality.
HP stock is up over 36% in the last 12 months. Investors can gain exposure to the stock through First Trust S&P 500 Diversified Dividend Aristocrats ETF (NASDAQ:KNGZ) and First Trust Exchange-Traded Fund First Trust S&P 500 Diversified Free Cash Flow ETF (NYSE:FCFY).
Price Action: HPQ stock is down 0.28% at $35.74 premarket at the last check Wednesday.
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