Logitech terminates discussions regarding Plantronics’ acquisition
Date: 2018-11-26   Author: Pankaj Singh  Category: #news

Logitech terminates discussions regarding Plantronics’ acquisition

Logitech International, a webcam and keyboard maker, has reportedly terminated discussions regarding the purchase of Plantronics Incorporation, a gaming headset and Bluetooth earpiece manufacturer, as per statements releases by the two companies.

According to Plantronics, Logitech had approached the company for the anticipated acquisition, and the two companies held discussions pertaining to its fiduciary duties. However, the firm would now deliver on its business strategy as a stand-alone firm.

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.

If reports are to be believed, Plantronics and Logitech were looking to summarize acquisition negotiations this week, but it was Logitech’s management which later decided to back out from the potential deal.

According to sources with the knowledge of the matter, Logitech’s management terminated discussions on grounds of price disagreements. That was even with Plantronics having unveiled its books to Logitech based on the offer provided by Logitech which exceeded $3 billion, claim sources.

For the record, Plantronics held a market valuation of approximately $2 Bn as of the end of trading hours on last Friday.

According to market analysts, this acquisition would have been Logitech’s biggest acquisition ever, in a bid to diversify operations beyond computer accessories. Plantronics and Logitech had been under pressure due to new advancements, not just from network gear manufacturers like Cisco Systems, but also from tech giants such as Google and Microsoft Inc. 

For the uninitiated, Plantronics was founded in the year 1961, with its first goods being lightweight headsets for air company pilots. It later gained acclamation for selling headsets to the National Aeronautics & Space Administration, inclusive of the headsets worn by the first moonwalker Neil Armstrong during his 1969 moon voyage, cite trusted sources.



About Author


Pankaj Singh

Pankaj Singh

Pankaj Singh Develops content for Algosonline, Market Size Forecasters, and a couple of other platforms. A Post Graduate in Management by qualification, he worked as an underwriter in the UK insurance domain before deciding to switch his field of profession. With exp...

Read More

More from Pankaj


Post Recommendents

3D Mapping System Market | Global Industry Analysis, Segments, Top Key Players, Drivers and Trends to 2025
Author: Ashwin Naphade

Market Study Report, LLC, adds a comprehensive research of the ' 3D Mapping System market' that mentions valuable insights pertaining to market share, profitability graph, market size, SWOT analysis, and regional proliferation of this indu...


Pharmaceutical Testing Services Market Demand & Future Scope Including Top Players
Author: Ashwin Naphade

The ' Pharmaceutical Testing Services market' report, recently added by Market Study Report, LLC, examines the industry in terms of the global expanse, highlighting the present & future growth potential of each region as well as consolidated stati...


Mobile Phone Insurance Ecosystem Market Share, Growth, Statistics, by Application, Production, Revenue & Forecast to 2025
Author: Ashwin Naphade

The ' Mobile Phone Insurance Ecosystem market' research report now available at MarketStudyReport.com delivers a thorough analysis of the industry trends influencing the global business scenario. In addition, the report offers definitive informati...