Polycom to Acquire Audio-Conferencing Provider

By Matthew Hicks  |  Posted 2003-11-21 Print this article Print

Polycom, best known for its video conferencing systems, on Friday said that it has agreed to buy conferencing provider Voyant Technologies.

Polycom Inc. best known for its video conferencing systems, on Friday said that it has agreed to buy conferencing provider Voyant Technologies Inc. The $110.7 million deal will give Polycom greater audio conferencing capabilities. Voyant, of Westminster, Colo., is a leading provider of audio-conferencing equipment. Pleasanton, Calif.-based Polycom has been pushing like other conferencing companies to offer a full breadth of offerings for video, audio and Web conferencing.
"Polycoms objective is to offer a complete, converged collaborative-communications solution…Voyants leading voice communications system is another key step in that strategy," said Phil Keenan, Polycom senior vice president and general manager, in a statement.
Keenan added that Voyants products would complement the companys Polycom Office platform, which integrates voice, video, data and web communications. Polycom expects the deal to close during the first quarter of 2004. The deals price tag is expected to fall to $95.7 million once the amount of cash Voyant has available at closing is taken into consideration. Polycom also may pay an additional $35 million in cash or stock over a two-year period if certain financial milestones are met. Once the acquisition is completed, Voyant President and CEO Bill Ernstrom will stay on and continue to lead the Voyant group, which will become part of Polycoms Network Systems, the companies said.
Matthew Hicks As an online reporter for eWEEK.com, Matt Hicks covers the fast-changing developments in Internet technologies. His coverage includes the growing field of Web conferencing software and services. With eight years as a business and technology journalist, Matt has gained insight into the market strategies of IT vendors as well as the needs of enterprise IT managers. He joined Ziff Davis in 1999 as a staff writer for the former Strategies section of eWEEK, where he wrote in-depth features about corporate strategies for e-business and enterprise software. In 2002, he moved to the News department at the magazine as a senior writer specializing in coverage of database software and enterprise networking. Later that year Matt started a yearlong fellowship in Washington, DC, after being awarded an American Political Science Association Congressional Fellowship for Journalist. As a fellow, he spent nine months working on policy issues, including technology policy, in for a Member of the U.S. House of Representatives. He rejoined Ziff Davis in August 2003 as a reporter dedicated to online coverage for eWEEK.com. Along with Web conferencing, he follows search engines, Web browsers, speech technology and the Internet domain-naming system.

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