July 27, 2021
HP has signed a definitive agreement to acquire Teradici Corporation, a global provider of remote computing software that enables users to securely access high-performance computing from any PC, Chromebook, or tablet. According to HP, the acquisition will enhance the company’s capabilities in the Personal Systems category by delivering new compute models and services tailored for hybrid work.
As hybrid work becomes the norm, 67% of the workforce is expected to work remotely at least three days a week, according to internal reserach conducted by HP.
“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 ZCentral Remote Boost software, which is focused on providing remote access to physical workstations, HP already enables remote and hybrid work for professionals such as engineers, animators, editors, and other users of high-performance computing.
According to HP's press office, the Teradici brand will remain, and the acquired company and its talents will join HP’s Personal Systems Services division.
Teradici provides a complementary set of capabilities that are focused on cloud PCs and virtual workstations. According to HP, 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's products are also bundled with other PCs and workstations in partnership arrangements. These partners include some of HP's rivals, such as Dell, Lenovo, and BOXX. “HP values Teradici’s partnerships and will encourage their continuation,” says HP's press office.
Sources: Press materials received from the company, additional information gleaned from the company’s website, and email exchanges with HP PR.
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