Logitech shelves $2.2bn deal to buy Plantronics

(Image credit: Image Credit: Logitech)

Swiss PC accessory maker Logitech has ended takeover talks with US Bluetooth earpiece and gaming headset manufacturer Plantronics.

Negotiations between the two companies were first reported by Reuters this weekend, though now they have both confirmed that their discussions have ended.

Logitech did so in a statement in which it confirmed that it had been in talks about a potential deal while Plantronics' CEO Joe Burton explained that it would deliver on its strategy as a stand-alone company, saying:

“I have been and remain tremendously optimistic about the opportunity in front of us, and with our focused strategy and leadership team, I am confident that Plantronics will create significant long term value for shareholders.” 

Negotiations fall through

Logitech and Plantronics were aiming to conclude negotiations this week before the Swiss company decided to walk away from the potential deal on Sunday according to those close to the matter.

The company's board ended negotiations over price disagreements despite the fact that Plantronics opened its books to Logitech following a $3bn offer.

If the deal had gone through, it would have been Logitech's largest acquisition as the company looks to expand its business beyond computer accessories. Plantronics meanwhile completed its largest acquisition to date back in July when it purchased the US video-conferencing equipment maker Polycom Inc.

Via Reuters

Anthony Spadafora

After working with the TechRadar Pro team for the last several years, Anthony is now the security and networking editor at Tom’s Guide where he covers everything from data breaches and ransomware gangs to the best way to cover your whole home or business with Wi-Fi. When not writing, you can find him tinkering with PCs and game consoles, managing cables and upgrading his smart home.