Global electronics company Plantronics on Tuesday announced it has completed the $2 billion acquisition of Polycom, a leader in the video, voice and content solutions.
The Polycom's acquisition will accelerate and expand Plantronics' vision, enabling it to deliver the broadest portfolio of end points in the Unified Communications and Collaboration (UCC) ecosystem, the company said in a statement.
Plantronics offers a portfolio of integrated, intelligent solutions that spans headsets, software, desk phones, audio and video conferencing and cloud services.
"We are pleased that Plantronics and Polycom are moving ahead as one company. This combined offering empowers people with the tools and flexibility they need to create the best experience when connecting to what is most important to them," said Joe Burton, Plantronics' President and Chief Executive Officer.
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 premium experience regardless of the UCC solutions selected by the customer.
Plantronics acquired Polycom at $2.0 billion enterprise value, with the total consideration consisting of approximately $1.638 billion in cash and 6.352 million Plantronics shares.
"Together as one company, with teams in Asia-Pacific and throughout the world, we will continue to put people's needs at the centre and boost the power of communications and collaboration," Burton added.
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