PLANTRONICS, best known for its
headsets, has signed a definitive
agreement to acquire Altec Lansing, a
market leader in portable and
powered audio systems.Under the terms of the agreement, Plantronics will acquire all of the capital stock of Altec Lansing for a cash purchase price in of approximately $166 million.
Following the closure of the transaction, the resulting wholly-owned subsidiary of Plantronics will be called Altec Lansing Technologies, Inc.
?The combination of our expertise in voice communication and Altec Lansing?s in music entertainment enables us to meet the full audio needs of the consumer, in their personal and professional lives,? said Ken Kannappan, president and CEO, Plantronics, Inc.
?We?ve been exploring audio entertainment possibilities for some time. The acquisition of Altec Lansing, with its product portfolio strength and brand reputation, dramatically accelerates those plans at a time when the technology and momentum in convergence is there for us to leverage.?
The move coincides with the launch of Altec Lansing?s latest addition to its successful inMotion range of iPod speaker docking stations.
The iM7 Portable Speaker System brings a new level of audio power to the iPod and iPod mini, along with the ability to run on batteries for use on the move.
Patent-pending digital amplification technology and many other engineering extras are said to create a big and full sound.
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