Yahoo Finance Live's Julie Hyman discusses HP's plans to acquire Poly in a $3.3 billion deal.

Video Transcript

JULIE HYMAN: And then finally this morning, we've got a deal to talk about. HP is buying Plantronics for $3.3 billion. 3.3 billion is the enterprise value. It includes debt there. Plantronics-- it's 40 bucks a share, by the way, is the price for Plantronics. 53% premium to its closing price Friday. HP shares are trading down by about 4% here.

Plantronics makes sort of wearables, but also stuff that helps you in your workplace connect. So in other words, it's sort of a work-- I think it's a work from home play? I don't know, you tell me, Soz. You watch HP more closely than I do.

BRIAN SOZZI: Well, let me just set the backdrop. It is amazing to see how far HP has come under CEO Enrique Lores. I remember when he first started a couple of years ago, pre-pandemic, he was in our studio talking about why the company should not be trying to merge with Xerox. Now, here he is today pulling a trigger on a $3.3 billion deal, which, to your point, Julie, yes it is hardware, work from home hardware. Some software applications, of course, with Plantronics. But this is his second large acquisition. And clearly, HP has this view that [? peripherals, ?] that type of hardware is the place to be.

Last year, they bought HyperX, which is a gaming [? peripheral ?] maker for $425 million. This is a very big deal. I suspect, you know, obviously we'll take some time to digest a deal like this. But still, HP sees a market or an opportunity in [? peripherals, ?] and it's going right after it.

JULIE HYMAN: And we're talking about things like headsets, right?

BRIAN SOZZI: Headsets. And--

JULIE HYMAN: Not like--

BRIAN SOZZI: --webcams, too.

JULIE HYMAN: --VR headsets, but like headsets that you wear when you're on the phone. Just a quick mention of Xpeng, which was out with its numbers this morning. We're going to be speaking to the company later in the show, but the shares are up 3% here this morning. Smaller fourth quarter loss than analysts estimated, and the company forecasting deliveries for the first quarter of 33,500 to 34,000 vehicles. So we, again, will be digging into these numbers a bit further later on in the show.