The Swiss computer accessory maker Logitech has ended its discussions to acquire the US Bluetooth earpiece and gaming headset manufacturer Plantronics. Plantronics' market cap is over a third of Logitech's $5.6 billion.
The deal would going to be the far Logitech largest acquisition and would show the company push to diversify its business.
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Logitech International SA, a Swiss manufacturer of keyboards and webcams, is in discussions to acquire Plantronics Inc, a US maker of Bluetooth earpieces and gaming headsets, people familiar with the matter said on Friday.
The announcement came after Reuters reported on the negotiations between Logitech and Plantronics last Friday. The company develops and markets personal peripherals for PC navigation, video communication and collaboration, music and smart homes. And this pressure comes not necessarily from small, fast-moving companies, but also industry bigwigs like Cisco Systems, Microsoft, and Alphabet (Google's parent company). If these negotiations are successful between the two companies then this acquisition could be underway and closed in the month of November itself.
Plantronics traditionally has specialized in headsets and unified communications gear, but acquired Polycom in an effort to move up the food chain. Plantronics, which got its start in the early 1960s making lightweight headsets for pilots, declined to comment. Although it sells some of its products to consumers, it is generally considered a business-oriented company. It was later known for selling the headsets to the NASA which includes the ones worn by Neil Armstrong during his first moonwalk in 1969.