Plantronics, the audio communications equipment manufacturer, was all set to be acquired by Logitech until the deal was unexpectedly terminated. Reuters broke the news over the weekend, which would have resulted in Logitech spending $2.2 billion to acquire Plantronics, until Logitech confirmed with TechCrunch late on Sunday that it had backed away from negotiations.
It’s not known why Logitech backed away from the deal, as Plantronics’ products would have complemented its existing line-up of B2B solutions. Logitech refused to elaborate when reached for comment.
Earlier this year, Plantronics acquired Polycom for approximately $2 billion, while Logitech has also been on a spending spree, having picked up Blue Microphones in July.
Since the announcement that the deal was officially dead, Plantronics’ stock price has suffered. In pre-market trading, Plantronics’ stock has dropped over 5%, while Logitech’s stock has surged 3% on the news.