According to Reuters, Logitech has put in an offer of $2.2B to buy Plantronics.
Earlier today Reuters reported that Logitech is in discussions to acquire Plantronics Inc., the USA based earphones and headphones manufacturer with a range of products from Bluetooth headphones as well as earbuds, gaming and professional headphones as well as audio peripherals to complement their existing range of products.
The Company which competes head on with Logitech did not identify the volume of goods sold to achieve the 215% growth. Plantronics declined to comment, while Logitech did not respond to a request for comment.
Plantronics, too, confirmed the talks and that they have gone nowhere.
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Reuters reported that Logitech was looking to buy Plantronics for $2.2 billion.
In an effort to expand the company's horizons, Logitech acquired ASTRO Gaming a year ago for $85 million.
Joe Burton, Chief Executive, Plantronics, was quoted stating that he is significantly optimistic about the future outlook of the company, and along with the focused business strategy and powerful leadership team, he has deep faith that Plantronics would undoubtedly usher noteworthy long-term gains for shareholders. The stock has a market cap of $2.00 billion, a price-to-earnings ratio of 18.51 and a beta of 1.09. The company is headquartered in Lausanne, Switzerland, with offices in Newark, California. The company's enterprise products include headsets optimized for unified communications and collaboration, other corded and cordless communication headsets, audio processors, and telephone systems; and consumer products comprise Bluetooth and corded products for mobile device applications, personal computers, and gaming headsets. The company also claims that Neil Armstrong's first words were through a Plantronics headset, raising the brand value.
A sale of Plantronics would come on the heels of the company's $2 billion acquisition in July of USA video-conferencing equipment maker Polycom Inc.