2 min Devices

Plantronics closes deal with SEC on acquisition of Polycom

Plantronics closes deal with SEC on acquisition of Polycom

Headset manufacturer Plantronics has signed an agreement with the US stock exchange watchdog SEC regarding possible irregularities in the acquisition of videoconferencing and collaboration specialist Polycom. This was recently announced by the headset manufacturer.

According to the manufacturer, this is an agreement with the stock market regulator in the United States whereby, against payment of 36 million dollars, the ongoing investigation into irregularities surrounding the sale of Polycom will be halted at the end of 2016.

Undesirable behaviour of employees Polycom China

In concrete terms, the research of the watchdog on possible undesirable behaviour of employees of the acquired videoconferencing and collaboration specialist in China was carried out. The exact nature of this undesirable behaviour has not been disclosed. However, it was only at Polycom China, before the company went public in 2016 and before the company was taken over by Plantronics in July of this year. All employees involved would have left the company before the takeover.

Cooperation with authorities

Plantronics himself raised the irregularities with the SEC. After it had carried out an extensive investigation itself, the headset specialist himself raised the irregularities found with the stock market regulator and then cooperated fully with the investigation. The U.S. Department of Justice has also issued a statement reporting that the headset manufacturer has entered into an agreement with the Securities and Exchange Commission (SEC).

Acquisition in July 2018

In July 2018, Plantronics acquired Polycom for an amount of approximately USD 1.6 billion. According to the manufacturer, this created the broadest portfolio of complementary products and services in the global communications and collaboration ecosystem.

In addition, the headset manufacturer wants to use and develop new opportunities in the market for unified communications and collaboration applications with the acquisition. This also creates opportunities for services such as data analytics and insight.

This news article was automatically translated from Dutch to give Techzine.eu a head start. All news articles after September 1, 2019 are written in native English and NOT translated. All our background stories are written in native English as well. For more information read our launch article.