Plantronics is known as a maker of business and personal headsets and audio solutions. With the acquisition of Polycom, Plantronics aims to become the partner of choice for the communications and collaboration ecosystem.
The cash-and-stock deal comprises about $948 million in cash and Plantronics shares worth $358 million, as well as $690 million in debt. Plantronics plans to make annual cost savings of $75 million a year, within 12 months of the transaction closing, from synergies across the two companies. Polycom was taken private in 2016 by Siris Capital Group for $1.7 billion, ending a three-month old deal with Canada’s Mitel Networks Corp.
Accelerates Plantronics Strategy. Polycom brings a global leadership position in voice and video collaboration, accelerating Plantronics vision of delivering new communications and collaboration experiences.
Broadens The Portfolio. With the addition of Polycom, Plantronics will have the broadest portfolio of complementary products and services across the global communications and collaboration ecosystem, and the ability to create exceptional user experiences.
Expands Market Opportunity. The combination positions Plantronics to capture additional opportunities across the $39.9bn unified communications and collaboration industry, driven by innovation in video and the ubiquity of audio, building growth opportunities through data analytics and insight services.
Augments Services Business. Polycom significantly expands Plantronics services offering, providing a meaningful presence in management and analytics services.