Plantronics has announced that it has completed its acquisition of Polycom, which was first made public at the end of May in a $2bn deal.
“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 CEO. “Plantronics now offers an unparalleled portfolio of integrated, intelligent solutions that spans headsets, software, desk phones, audio and video conferencing, and cloud services. 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.”
“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,” explained Ira M. Weinstein, founder, 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.”
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. Non-GAAP earnings per share may exclude charges related to stock-based compensation, purchase accounting adjustments, acquisition and integration costs, restructuring and other related charges, litigation settlements, as well as the tax impact of these items and any discrete tax adjustments.
CEO and president Joe Burton has also revealed his new leadership team, which includes:
Amy Barzdukas, EVP and chief marketing officer
Cary Bran, SVP and chief strategy officer
Alex Bustamante, EVP of global operations and president of PLAMEX
Mary Huser, EVP and chief legal and compliance officer
Jeff Loebbaka, EVP, global sales
Tarun Loomba, EVP, product and solutions management
Navin Mehta, EVP, global services
Shantanu Sakar, EVP, headset business unit
Phil Sherburne, SVP and chief of staff, product integration
Pam Strayer, EVP and CFO
Don Williams, EVP, engineering
