Plantronics and Polycom announced recently that the former would be acquiring Polycom in a cash and stock transaction valued at $2 billion enterprise value. This was approved unanimously by both companies’ boards of directors, is subject to regulatory approvals and other customary closing conditions, and is expected to be completed by the third quarter of this calendar year.
Effective April 1, 2018, Robert Hagerty, board member and chairman of the Strategy and Mergers and Acquisitions committees, will assume the role of Chairman and Marv Tseu will assume the role of vice-chairman of the Plantronics board of directors.

Plantronics are now set to become the preferred partner for the communications industry. Polycom brings a global leadership position in voice and video collaboration, which will help accelerate Plantronics’ vision of delivering new communications and collaboration experiences. The acquisition will also mean that Plantronics will have the broadest portfolio of complementary products and services across the global communications ecosystem, and the ability to create exceptional user experiences.

The combination positions Plantronics to capture additional opportunities across the $39.9 Billion unified communications and collaboration industry driven by innovation in video and the ubiquity of audio, building growth opportunities through data analytics and insight services.

Polycom significantly expands Plantronics services offering, providing a meaningful presence in management and analytics services.

This news will further accelerate Plantronics vision of an enterprise that can leverage powerful analytics, video and audio touchpoints to ignite all new communications and collaboration experiences. According to Joe Burton, president and chief executive officer of 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.”

“Polycom has returned to growth by focusing on building strong ecosystem partnerships and delivering innovative, smart solutions for our customers and partners,” said Mary T. McDowell, chief executive officer, Polycom. “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.”

“Siris recognises the incredible opportunity in the Unified Communications industry and has been focused on building momentum in the industry for several years,” said Frank Baker, founder and managing partner, Siris Capital. “We are excited about the long-term value that the combination of Plantronics and Polycom will create for customers, partners, stakeholders and employees.”

Plantronics announced that it is reaffirming its financial outlook previously announced in its third fiscal quarter 2018 earnings press release dated January 30, 2018. For more information, please visit http://newsroom.plantronics.com/.