SANTA CRUZ, Calif.--(BUSINESS WIRE)--
Reiterates Company’s Commitment to Pursuing Next Phase of Profitable Growth
Plantronics, Inc. (PLT), a market leader in the global headsets, voice, and video endpoint market, today confirmed that the Company is no longer engaged in discussions with Logitech International S.A. (“Logitech”) regarding a potential combination. While it is Plantronics’ practice not to comment, in accordance with Swiss disclosure requirements, Logitech was required to disclose the status of the discussions following recent media reports.
Logitech approached Plantronics regarding a potential acquisition and, consistent with the Plantronics Board’s fiduciary duties, the Company entered into discussions with Logitech. Those discussions have ended. Plantronics will not comment further on this matter.
“Our combined organization of Plantronics and Polycom is working tirelessly to help our customers communicate, work, and play, wherever they are,” said Joe Burton, President and Chief Executive Officer, Plantronics, “Already the market leader in Unified Communications with the most comprehensive portfolio of communications and collaborations endpoints, our prospects are outstanding. We are working to reinvent the industry with valuable business insights available through unique software and analytics capabilities that span the entire portfolio of endpoints.”
Burton continued, “We have made great progress preparing the Company for the next phase of profitable growth, and we are very well positioned to successfully achieve our long-term strategic goals, as demonstrated by our strong second quarter 2019 results. We have seen very strong feedback from customers and partners, launched products across multiple categories in our first quarter post-close – including innovative analytics offerings that integrate deeply with our endpoints – and in September we increased both our long-term financial targets and our cost synergy targets related to our acquisition of Polycom. I have been and remain tremendously optimistic about the opportunity in front of us, and with our focused strategy and leadership team, I am confident that Plantronics will create significant long term value for shareholders.”
Plantronics is an audio pioneer and a leader in the communications industry. Plantronics technology creates rich, natural, people-first audio and collaboration experiences so good ideas can be shared and heard—wherever, whenever and however they happen. The company’s portfolio of integrated communications and collaboration solutions spans headsets, software, desk phones, audio and video conferencing, analytics and services. Our solutions are used worldwide by consumers and businesses alike and are a leading choice for every kind of workspace. For more information visit plantronics.com.
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This release may contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. We do not assume any obligation to update or revise any such forward-looking statements, whether as the result of new developments or otherwise. Forward-looking statements involve risks and uncertainties that may cause actual results to differ materially from those contemplated by such statements. The factors that could cause actual results to differ materially from those contemplated include the factors previously disclosed in Plantronics’ reports filed with the Securities and Exchange Commission (the “SEC”). For more information concerning these and other possible risks, please refer to our Annual Report on Form 10-K filed with the SEC for the fiscal year ended March 31, 2018, and other filings with the SEC, as well as recent press releases. The SEC filings can be accessed over the Internet at http://www.sec.gov/edgar/searchedgar/companysearch.html.