HP Inc. to Acquire Teradici
July 27 2021 - 8:25AM
HP Inc. 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.
About TeradiciTeradici 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.
About HPHP 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, 20212 HP Internal CMI Research, 2021
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