“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,” Plantronics CEO and President, Joe Burton, said.
Polycom CEO, Mary McDowell, added that bringing the two companies together will broaden the breadth of solutions available to customers and partners, creating a consistent user experience across many types of collaboration applications and devices.
“Polycom has returned to growth by focusing on building strong ecosystem partnerships and delivering innovative, smart solutions for our customers and partners,” she said.
According to Plantronics, the transaction is expected to be immediately accretive to non-GAAP EPS, and to achieve annual run-rate cost synergies of US$75 million within the first 12 months of the transaction closing.
The deal has been approved by both boards and is subjected to regulatory approval, expecting to close at the end of the third calendar quarter of this year.
Source:
Plantronics buys Polycom for $2B