LONDON, UK / ACCESSWIRE / April 02, 2018 / Active-Investors.com has just released a free research report on Plantronics, Inc. (NYSE: PLT). If you want access to this report all you need to do is sign up now by clicking the following link www.active-investors.com/registration-sg/?symbol=PLT as the Company's latest news hit the wire. The Company announced the acquisition of privately-owned Polycom Inc. from private equity firm Siris Capital Group, LLC. Siris had acquired Polycom in September 2016. The acquisition will allow Plantronics to expand into the video conferencing and collaboration business. Register today and get access to over 1,000 Free Research Reports by joining our site below:

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Active-Investors.com is focused on giving you timely information and the inside line on companies that matter to you. This morning, Plantronics most recent news is on our radar and our team decided to put out a fantastic report on the company that is now available for free below:

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Transaction Details

As per the terms of the acquisition agreement, Plantronics has agreed to pay $948 million in cash, 6.352 million Plantronics' shares valued approximately $362 million, and the assumption of Polycom's debt valued approximately $690 million. The total enterprise value of the deal is nearly $2 billion subject to adjustments at the time of closing. Once the transaction is completed, Polycom's shareholders are expected to own 16% stake in the merged company.

Two members from Siris Capital - Frank Baker, Founder and Managing Partner; and Daniel Moloney, Executive Partner - will join as members of the Board of the newly merged Company. Additionally, current Plantronics' Board members Robert Hagerty and Marv Tseu will take over as Chairman and Vice-Chairman of the Company's Board respectively w.e.f. April 01, 2018.

The deal has been approved by the Board of Directors of both companies and is expected to close in Q3 2018 subject to receiving regulatory approvals and other closing conditions.

Plantronics plans to finance the cash portion of the deal using mix of available cash in-hand plus new committed debt financing of approximately $1.375 billion from Wells Fargo Bank.

Benefits of the deal

Plantronics expects the deal to be immediately accretive to its non-GAAP earnings per share (EPS) and result in annual run-rate cost synergies of $75 million within 12 months of closing the deal. Plantronics expects the deal to speed up its plans of strengthening its market position in the global voice and video collaboration market. The Company can offer the widest portfolio of communications and collaboration solutions with the addition of Polycom's solutions and take advantage of the opportunities in the $39.9 billion UCC (unified communications and collaboration) industry. The deal enables Plantronics to expand its services to cover the augments services business.

Management Comments

Commenting on the acquisition of Polycom, Joe Burton, President and CEO at Plantronics, said:

"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. This will put Plantronics in an ideal position to solve for today's enterprise collaboration requirements while capitalizing on market opportunities associated with the evolving, intelligent enterprise."

Mary T. McDowell, CEO at Polycom, stated:

"Bringing Plantronics and Polycom together will broaden the breadth of solutions available to customers and partners and create a consistent end-user experience across many collaboration applications and devices. As one Company, Plantronics and Polycom will make it even easier for all customers to solve big-business problems through human-to-human connections."

Frank Baker added:

"We are excited about the long-term value that the combination of Plantronics and Polycom will create for customers, partners, stakeholders, and employees."

About Polycom Inc.

San Jose, California-based Polycom was founded in December 1990 and is a privately-owned global provider of open, standards-based UC solutions for voice and video communication and content sharing. The Company is a leading innovator in personal collaboration, group collaboration, and services including customer care, managed and professional services, and cloud services for interoperability, management, and analytics. The Company provides its secure video, voice, and content solutions to over 400,000 companies and institutions worldwide. The Company has a global presence with 64 offices in 31 countries and is supported by a team of over 2,800 employees.

Polycom reported GAAP revenue of $1.1 billion, non-GAAP gross margin of 56.6%, non-GAAP operating income of $183.1 million, and non-GAAP operating margin of 16% for the calendar year 2017.

About Plantronics Inc.

Santa Cruz, California-based Plantronics is a pioneer and a global leader in the audio and communications industry. The Company offers various high-quality communications solutions to its customers globally, ranging from Unified Communications and customer service ecosystems, to data analytics and Bluetooth headsets. The Company's intelligent and adaptive solutions allow customers to experience and facilitate simple and clear communications while enjoying distraction-free environments.

Stock Performance Snapshot

March 29, 2018 - At Thursday's closing bell, Plantronics' stock advanced 5.08%, ending the trading session at $60.37.

Volume traded for the day: 683.81 thousand shares, which was above the 3-month average volume of 179.29 thousand shares.

Stock performance in the last month ? up 11.71%; previous three-month period ? up 19.24%; past twelve-month period ? up 12.67%; and year-to-date - up 19.83%

After last Thursday's close, Plantronics' market cap was at $1.90 billion.

Price to Earnings (P/E) ratio was at 25.35.

The stock has a dividend yield of 0.99%.

The stock is part of the Technology sector, categorized under the Processing Systems & Products industry. This sector was up 2.0% at the end of the session.

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