Logitech confirms it engaged in discussions to acquire Plantronics, however, the acquisition did not progress and was terminated.
Logitech confirms it engaged in discussions to acquire Plantronics, however, the acquisition did not progress and was terminated.
In response to media reports of Logitech acquiring Plantronics, an American electronics company producing audio communications equipment and related products, Logitech confirms it engaged in discussions to acquire the said company. However, the acquisition did not progress and was terminated. A Reuters exclusive report reveals that Logitech offered more than 2.2 billion US dollars to acquire Plantronics which would be Logitech’s largest acquisition to date. The acquisition is said to push Logitech’s objective to diversify its business. Moreover, the acquisition would also help Logitech in keeping down manufacturing costs and address the concern with import tariffs by moving production to Plantronics’ US-based manufacturing. Hence, the acquisition didn’t progress as of this writing and both companies declined to comment about the negotiations.
Logitech’s Recent Acquisitions
Logitech has been acquiring some of its competitors in the past year. In 2017, Logitech acquired ASTRO Gaming for $85 million US dollars with the objective to diversify its products and further expands its leadership in gaming peripherals. Earlier this year, Logitech acquired Blue Microphones, a world-renowned maker of studio-quality microphones. Brands of Logitech now includes Logitech G, Ultimate Ears, Jaybird, Blue Microphones, and ASTRO Gaming.
Source: Reuters
