Now hear this: negotiations by consumer giant to buy Bluetooth earpiece firm fell on deaf ears.
Negotiations between Logitech and Plantronics have ended with no deal in sight after the former’s board decided to walk away from the table.
Swiss consumer electronics giant Logitech was planning to acquire US Bluetooth headset maker Plantronics for an estimated sum of $2.2bn. The move would have given Logitech a significant slice of the corporate headpiece market as well as the lucrative PC gamer market. Plantronics makes headphones for gamers under the RIG brand.
However, yesterday (25 November), the board of Logitech decided not to go ahead with the deal, and talks have been terminated.
Earlier this year, Logitech acquired hardware firm Blue Microphones for $117m in cash. Blue Microphones is the maker of the popular Yeti and Snowball microphones beloved of podcasters and vloggers. Last year, Logitech acquired Astro Gaming, a maker of headsets for gamers, for $85m in cash.
Clearly, the acquisition of a well-known brand such as Plantronics would have been one of Logitech’s most ambitious feats. But now it is not to be.
Sound or vision?
Plantronics, which was founded in 1961 as a maker of headphones for airline pilots, has a market cap of around $2bn. It acquired US video conferencing equipment maker Polycom for $2bn in March.
It is understood that negotiations between Logitech and Plantronics, both under pressure from competition from players including Google, Cisco and Microsoft, stalled over price agreements.
In a statement, Plantronics CEO Joe Burton confirmed that talks had been terminated and that the company would continue with its strategy as a standalone firm.
“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,” Burton said.