Polycom Completes SpectraLink Acquisition
March 26 2007 - 1:01AM
PR Newswire (US)
PLEASANTON, Calif., March 26 /PRNewswire-FirstCall/ -- Polycom,
Inc. (NASDAQ:PLCM), the world's leading provider of unified
collaborative communications solutions, today announced the
expiration of the tender offer by its wholly-owned subsidiary,
Spyglass Acquisition Corp., for all outstanding shares of
SpectraLink Corp. (NASDAQ:SLNK). The subsequent merger to finalize
the acquisition will close today, Monday, March 26, 2007. All
remaining outstanding SpectraLink shares, other than those held by
stockholders who properly perfect appraisal rights under Delaware
law, will be converted into the right to receive $11.75 in cash.
Following the merger today, SpectraLink will become a wholly-owned
subsidiary of Polycom. "We are delighted to complete our
acquisition of SpectraLink," said Robert Hagerty, chairman and CEO
of Polycom. "SpectraLink's technology, products, partnerships, and
people provide Polycom with immediate leadership in the wireless
telephony market. Now, by leveraging Polycom's proven strength in
voice and video over IP (V2oIP), we have the unique ability to
provide fixed and mobile solutions that seamlessly encompass voice,
video, and content collaboration solutions from the desktop, to the
meeting room, to the mobile individual." About Polycom Polycom,
Inc. is the worldwide leader in unified collaborative
communications (UCC) that maximize the efficiency and productivity
of people and organizations by integrating the broadest array of
high definition video, wired and wireless voice, and content
solutions to deliver the ultimate collaborative experience.
Polycom's high quality, standards-based conferencing and
collaboration solutions are easy to deploy and manage, as well as
intuitive to use. Supported by an open architecture, they integrate
seamlessly with leading telephony, workplace wireless telephony,
and presence-based networks. With its market-driving technologies,
best-in-class products, alliance partnerships, and world-class
service, Polycom is the smart choice for organizations seeking
proven solutions and a competitive advantage from on-demand
communications and collaboration. For additional information, call
800-POLYCOM or visit the Polycom web site at
http://www.polycom.com/. Forward-Looking Statements This press
release contains forward-looking statements that involve risks,
uncertainties and assumptions. If such risks or uncertainties
materialize or such assumptions prove incorrect, actual results
could differ materially from those expressed or implied by such
forward-looking statements and assumptions. All statements other
than statements of historical fact are statements that could be
deemed forward-looking statements. Risks, uncertainties and
assumptions include risks related to the timing or ultimate
completion of the transaction; adverse reactions to the acquisition
from shareholders, regulators, customers, suppliers, partners or
employees; and other risks that are described from time to time in
Polycom's and SpectraLink's filings with the Securities and
Exchange Commission, including but not limited to the risks
described in Polycom's Annual Report on Form 10-K for the year
ended December 31, 2006 and SpectraLink's Annual Report on Form
10-K for the year ended December 31, 2006. Polycom assumes no
obligation and does not intend to update these forward-looking
statements. Polycom, the Polycom logo, SpectraLink and the
SpectraLink logo are registered trademarks of Polycom in the U.S.
and various countries. DATASOURCE: Polycom, Inc. CONTACT: Michael
R. Kourey, CFO of Polycom, Inc., +1-925-924-5742, Web site:
http://www.polycom.com/
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