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.
the closure of the transaction, the
resulting wholly-owned subsidiary of
Plantronics will be called Altec Lansing
?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
president and CEO,
?We?ve been exploring
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.
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.