Technology

Logitech to Acquire Plantronics Deal is Dead

As we know the Logitech is a Swiss company which is famous for making keyboards and webcam. And Plantronics is known as the manufacturer of Bluetooth earpieces and gaming headphone.

For a long time a there is a discussion was happening in these companies to combine both. But on the last Friday the Swiss company, Logitech has ended the discussion to acquire Plantronics.

Both the companies have confirmed that the idea of acquiring has been dumped. The CEO of Plantronics has said that- “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,” Everyone was hoping that Plantronics and Logitech will be definitely combined but, on last Sunday the board members of Logitech decided to move back from this deal. According to a close source of this company, the board of Logitech has decided to go back from this deals because of over price disagreements.
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After the cancellation of this deal by Logitech, the business of both companies has been in under pressure because new offering being developed by some major technology companies such as Microsoft and Google.

The Logitech was founded in 1981 was earlier known as the manufacturer of personal computers. But after not getting desirable success in this field it decided to manufacture electronic accessories such as gaming, cloud computing, and video conferencing devices. Now, it has a market capitalization of $5.6 billion.

While Plantronics is a California based company which was founded in 1961, the first product of Plantronics was the lightweight headset for an airplane pilot. It is also known as the provider of headsets to NASA. That was the Plantronics made headset which was used by the Neel Armstrong during his moonwalk in 1969. Now, the annum sale of the Plantronics is around $2 billion.

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