Plantronics announced on March 28 that it is acquiring unified communications vendor Polycom. The deal includes cash and stock and is valued at $2.0 billion.
Plantronics and Polycom expect the deal to close in the third quarter of 2018.
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," Joe Burton, president and chief executive officer at Plantronics, stated. "This will put Plantronics in an ideal position to solve for today's enterprise collaboration requirements while capitalizing on market opportunities associated with the evolving, intelligent enterprise."
Polycom had been a public company, but it went private in 2016 after being acquired by affiliates of private equity firm Siris Capital Group. That transaction also valued Polycom at approximately $2 billion.
"Siris recognizes the incredible opportunity in the unified communications industry and has been focused on building momentum in the industry for several years," Frank Baker, founder and managing partner, Siris Capital, stated. "We are excited about the long-term value that the combination of Plantronics and Polycom will create for customers, partners, stakeholders and employees."
As a private company, Polycom had revenue of $1.1 billion for calendar 2017. As part of Plantronics, Polycom's management is optimistic that the company and its technologies will grow faster.
"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," Mary T. McDowell, chief executive officer at Polycom, stated. "As one company, Plantronics and Polycom will make it even easier for all customers to solve big-business problems through human-to-human connections."
Sean Michael Kerner is a senior editor at EnterpriseNetworkingPlanet and InternetNews.com. Follow him on Twitter @TechJournalist.