Fortune 100 technology company HP has signed a definitive agreement to acquire Teradici, an innovator of PC-over-IP (PCoIP) technology, in an effort to enhance and accelerate its remote computing offerings. Founded in 2004, Teradici produces software that enables strong security and performance in remote computing when used with virtual desktop solutions, like the one offered by Microsoft’s Azure. The terms are undisclosed, but the acquisition is expected to close during the fourth quarter of 2021.
The purchase is a step in the right direction for HP’s overall strategy to compete in the growing remote workforce sector, according to the company. As the second-largest global provider of PCs, HP looks to compete in a virtualization sector that's been dominated by VMware -- with Citrix and Microsoft pulling in most of the remaining market. The move comes as organizations everywhere see major rises in remote and hybrid work, a growth accelerated by the coronavirus pandemic.
Microsoft recently introduced Windows 365, its new cloud-based, browser-accessible OS desktop service that is compatible with Apple and Android devices. The addition of Teradici to its virtualization utilities sets HP up to join the fray of a market that Gartner predicts will be representative of over 30% of the U.S. workforce by 2022.