Three months on from the announcement Plantronics has completed its acquisition of Polycom, enabling it to offer the broadest portfolio of endpoints in the unified communications and collaboration (UCC) ecosystem. Plantronics is now able to offer integrated, intelligent solutions that span headsets, software, desk phones, audio and video conferencing, and cloud services.
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. Plantronics expects the acquisition to be “immediately accretive to Non-GAAP earnings per share” and believes it can achieve annual run-rate cost synergies of $75 million within 12 months.
“We are pleased that Plantronics and Polycom are moving ahead as one company focused on putting people at the centre of every collaboration experience,” said Joe Burton, Plantronics’ president and chief executive officer.
“The combination of Plantronics and Polycom comes at a critical time when customers are searching for high-quality audio and video solutions that are easy to buy, easy to use, and easy to manage,” said Ira M. Weinstein, founder of Recon Research. “The company’s offerings work with on-premises, cloud (service provider) and hybrid platforms, giving customers the flexibility to choose their deployment method and cloud migration timing. In addition, its global channel and technology partner ecosystem fosters both innovation and global reach. We’re expecting great things in the future from the new and expanded Plantronics.”