Logitech's Plantronics acquisition dead on arrival

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Logitech and Plantronics have poured cold water on claims the two companies were planning an acquisition. 

Reuters reported that Logitech was looking to buy Plantronics for $2.2 billion. TechCrunch, however, reported that Logitech gave up on the idea.

“While it had engaged in discussions with Plantronics about a potential transaction, it had terminated the negotiations,” a Logitech representative told TechCrunch.

A deal worth $2.2 billion would have made it Logitech's biggest acquisition, by far. Last year, Logitech acquired ASTRO Gaming for $85 million in cash.

“I have been and remain tremendously optimistic about the opportunity in front of us, and with our focused strategy and leadership team, I am confident that Plantronics will create significant long term value for shareholders,” Plantronics Chief Executive Joe Burton said in the statement.

Logitech is a Swiss company that produces peripherials for PC systems, and are most popular for building mice. The company is headquartered in Lausanne, Switzerland, with offices in Newark, California. It counts more than 7,000 employees.

Plantronics is a California-based company that builds unified communications systems, wireless headsets, conferencing systems, and software. Although it sells some of its products to consumers, it is generally considered a business-oriented company.

It currently counts 3,800 employees. Last year, it had acquired US video conferencing equipment maker Polycom, for $2 billion. Plantronics' largest single shareholder is Siris Capital Group LLC, a private equity firm that holds 16 per cent of the company.

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