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Polycom snapped up in $2bn deal

(Image credit: Image source: Shutterstock/MaximP)

Plantronics has announced the $2bn acquisition of communications specialists Polycom.

The company said its acquisition of Polycom, best known for its UC and flexible working services, will allow it to ‘offer a premium experience regardless of the UCC solutions selected by the customer.”

According to the press release, the deal cost roughly $1.6bn in cash, and the rest going through shares. That means, the company stated, that Triangle Private Holdings II (Polycom’s sole shareholder), now holds 16 per cent of Plantronics.

Frank Baker, Co-Founder and Managing Partner, Siris Capital Group (an affiliate of Triangle Private Holdings II, LLC), and Daniel Moloney, Executive Partner, Siris Capital Group, were appointed to Plantronics Board of Directors and have been nominated for election by Plantronics’ stockholders at the 2018 Annual Meeting of Stockholders.

“We are pleased that Plantronics and Polycom are moving ahead as one company focused on putting people at the center of every collaboration experience,” stated Joe Burton, Plantronics’ President and Chief Executive Officer.

“Plantronics now offers an unparalleled portfolio of integrated, intelligent solutions that spans headsets, software, desk phones, audio and video conferencing, and cloud services. This combined offering empowers people with the tools and flexibility they need to create the best experience when connecting to what is most important to them.”

Image source: Shutterstock/MaximP 

Sead Fadilpašić

Sead is a freelance journalist with more than 15 years of experience in writing various types of content, from blogs, whitepapers, and reviews to ebooks, and many more, across sites including Al Jazeera Balkans, TechRadar Pro, IT Pro Portal, and CryptoNews.