HP Inc. to Acquire Teradici
Jul. 27, 2021 8:25 AM ETHP Inc. (HPQ)
PALO ALTO, Calif., July 27, 2021 (GLOBE NEWSWIRE) -- HP Inc. (HPQ) today announced a definitive agreement to acquire 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 services tailored for hybrid work.
Core remote desktop software is a large and expanding segment, projected to grow at a 17% compound annual growth rate through 20281. As hybrid work becomes the norm, 67% of the workforce is expected to work remotely at least three days a week2.
“Teradici’s cutting-edge technology has long been at the forefront of secure, high-performance virtual computing,” said Alex Cho, president, Personal Systems, HP Inc. “Their world-class talent, industry-leading IP, and strong integrations with all major public cloud providers will expand our addressable market, and meet growing customer needs for more mobile, flexible, and secure computing solutions. We look forward to welcoming the Teradici team to HP.”
“We have long admired HP as one of the world’s most innovative technology companies and we are thrilled to be joining the team,” said David Smith, CEO, Teradici. “HP’s strong culture of innovation, customer-centricity, and corporate values aligns extremely well with our mission at Teradici and this deal will significantly expand our global reach and drive new sources of innovation.”
Through its award-winning ZCentral Remote Boost software, which is focused on providing remote access to physical workstations, HP is enabling remote and hybrid work for professionals such as engineers, animators, editors, and other users of high-performance computing.
Teradici brings a complementary set of capabilities that are focused on cloud PCs and virtual workstations. Combining the two remote access solutions will enable HP to offer a broader remote compute platform that spans on-premise and cloud solutions from any type of device, including macOS, public clouds, and iPad and Android tablets.
The transaction is expected to close in calendar Q4 2021, pending regulatory review and other customary closing conditions. Financial terms of the transaction were not disclosed.
Teradici is the creator of the PCoIP remote display protocol, which delivers desktops and workstations from the data center or public cloud to end users with the highest levels of security, responsiveness, and fidelity. Teradici Cloud Access Software (CAS), which won an Engineering Emmy from the Television Academy in 2020, powers the most secure remote solutions with unparalleled performance for even the most graphics-intensive applications. Teradici technology is trusted by leading media companies, design houses, financial firms and government agencies and is deployed to more than 15 million users worldwide. For more information, visit: www.Teradici.com.
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.
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1 “Remote Desktop Software: Global Market Analysis, Insights and Forecast, 2017 – 2028,” Fortune Business Insights Desk and Primary Research, 2021
2 HP Internal CMI Research, 2021