The world of technology market has been discussing the possible acquisition of Plantronics by Logitech. Now, the recent reports have confirmed that Logitech has ended the negotiations with Plantronics, meaning that the acquisition is unlikely to happen in the near-future. The Swiss-based manufacturer of keyboards and the computer accessories was expected to buy Plantronics, which is a United States company known for making Bluetooth-based accessories like headphones. The negotiation was planned on Friday but it was announced on Sunday that both companies have terminated the decision to merge. Of course, this was the decision of both companies.
“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,” Joe Burton was quoted saying about the state of the acquisition. According to what officials of Plantronics had shared earlier, Logitech had approached the US company for a possible acquisition. The deal was to keep Plantronics as a standalone company, where it would produce the devices. The negotiation was expected to conclude this week, but the final decision from Logitech didn’t go in sync.
According to some of the closer sources, Logitech backed off from the offer, regarding the issue of price. Of course, neither companies have shared the reasons why the deals have been called off. Considering that the US company had a market capitalization of $2 Billion, this acquisition could have been the biggest pulled off by Logitech, had it gone smoothly. As per the deal, both the companies would have worked together to build some of the better electronic accessories, combining hardware quality and the expertise Plantronics has on the Bluetooth devices sector. Both companies have been facing severe competition from firms like Cisco in the past.
William has an experience of more than seven years writing for the web. In the recent couple of years, he’s been focusing on the business sector, watching market trends and the growth of economies. At News IMN, we use his services to keep our readers updated about the market that decides their lives.