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Plantronics to Acquire Siris Capital Portfolio Company in $2B Deal

Plantronics to Acquire Siris Capital Portfolio Company in $2B Deal

SANTA CRUZ, Calif., March 28, 2018 (GLOBE NEWSWIRE) — Plantronics (NYSE: PLT) and Polycom today announced that they have
entered into a definitive agreement under which Plantronics will acquire Polycom in a cash and stock transaction valued at $2.0 billion
enterprise value. The transaction has been unanimously approved by the boards of directors of both companies, is subject to regulatory
approvals and other customary closing conditions, and is expected to close by the end of the third calendar quarter of 2018.

Compelling Strategic Rationale

With the acquisition of Polycom, Plantronics will become the partner of choice for the communications and collaboration ecosystem.

The combination:

  • Accelerates Plantronics Strategy. Polycom brings a global leadership position in voice and video collaboration, accelerating Plantronics
    vision of delivering new communications and collaboration experiences.
  • Broadens Portfolio. With the addition of Polycom, Plantronics will have the broadest portfolio of complementary products and services
    across the global communications and collaboration ecosystem, and the ability to create exceptional user experiences.
  • Expands Market Opportunity. The combination positions Plantronics to capture additional opportunities across the $39.9B Unified
    Communications and Collaboration industry driven by innovation in video and the ubiquity of audio, building growth opportunities
    through data analytics and insight services.
  • Augments Services Business. Polycom significantly expands Plantronics services offering, providing a meaningful presence in
    management and analytics services.

Today’s news will further accelerate Plantronics vision of an enterprise that is able to leverage powerful analytics, video and audio
touchpoints to ignite all new communications and collaboration experiences. According to Joe Burton, President and Chief Executive
Officer, Plantronics, “With the addition of Polycom’s solutions across video, audio and collaboration we will be able to deliver a
comprehensive portfolio of communications and collaboration touch points and services to our customers and channel partners. This
will put Plantronics in an ideal position to solve for today’s enterprise collaboration requirements while capitalizing on market
opportunities associated with the evolving, intelligent enterprise.”

“Polycom has returned to growth by focusing on building strong ecosystem partnerships and delivering innovative, smart solutions for our
customers and partners,” said Mary T. McDowell, Chief Executive Officer, Polycom. “Bringing Plantronics and Polycom together will broaden
the breadth of solutions available to customers and partners and create a consistent end-user experience across many collaboration
applications and devices. As one company, Plantronics and Polycom will make it even easier for all customers to solve big-business problems
through human-to-human connections.”

“Siris recognizes the incredible opportunity in the Unified Communications industry and has been focused on building momentum in the
industry for several years,” said Frank Baker, Founder and Managing Partner, Siris Capital. “We are excited about the long-term value that the
combination of Plantronics and Polycom will create for customers, partners, stakeholders and employees.”

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