Plantronics may be best known as a manufacturer of headsets and headphones, but now the company has announced a $2bn acquisition of video conferencing firm Polycom. The cash-and-stock deal comprises about $948 million in cash and 6.352 million Plantronics shares, as well as $690 million in debt, according to the Reuters report.
This isn’t the first time Polycom has been acquired. The video conferencing firm agreed to a deal with Mitel Networks, although that was called off in July 2016. That led to a second deal with Siris Capital Group, although this new deal with Plantronics should align more with Polycom’s plans to create ‘the workplace of the future’
The Plantronics and Polycom deal should offer quite a bit of synergy. Polycom has a rather strong foothold in offices around the world thanks to its advanced video conferencing technology, while Plantronics has an equally good footing due to its wide range of headsets. Both are committed to transforming workplaces with technology also.
According to Joe Burton, president and CEO, Plantronics, “With the addition of Polycom’s solutions across video, audio and collaboration we will be able to deliver a comprehensive portfolio of communications and collaboration touch points and services to our customers and channel partners. This will put Plantronics in an ideal position to solve for today’s enterprise collaboration requirements while capitalising on market opportunities associated with the evolving, intelligent enterprise.”
Mary T. McDowell, CEO, Polycom adds, “Polycom has returned to growth by focusing on building strong ecosystem partnerships and delivering innovative, smart solutions for our customers and partners.
“Bringing Plantronics and Polycom together will broaden the breadth of solutions available to customers and partners and create a consistent end-user experience across many collaboration applications and devices. As one company, Plantronics and Polycom will make it even easier for all customers to solve big-business problems through human-to-human connections.”