Plantronics completes acquisition of Polycom

Plantronics completes acquisition of Polycom
Plantronics and Polycom are better together as one great collaboration company, said Landi.
Published: 4 July 2018 - 6:08 a.m.
By: David Ndichu

Plantronics has completed its acquisition of Polycom. The acquisition enables Plantronics to deliver a broader portfolio of end points in the unified communications and collaboration (UCC) ecosystem.

As trends in enterprise communications move toward open work spaces and flexible work arrangements, the ecosystem of platforms and devices continues to expand. With the addition of Polycom’s portfolio, Plantronics can offer a collaborative experience regardless of the UCC solutions selected by the customer.

“It’s great for Polycom to join an industry leader like Plantronics as customers want simple, great communication and collaboration experiences. Our combined portfolio has complimentary solutions that cater to all types of businesses, regardless of their size and industry. Plantronics and Polycom are better together as one great collaboration company,” Marco Landi, senior vice president, EMEA and APAC, Polycom said.  

Under terms of the acquisition agreement, Plantronics acquired Polycom at a $2.0 billion enterprise value with the total consideration consisting of approximately $1.638 billion in cash and 6.352 million Plantronics shares, resulting in Triangle Private Holdings II, LLC, which was Polycom’s sole shareholder, owning approximately 16.0% of Plantronics following the acquisition. Under the terms of the transaction, 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.

A $1.275 billion term loan, along with cash on hand, were used to finance the acquisition as well as pay related fees and expenses.

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