Polycom (PLCM) CEO Doesn't Deny Takeover Interest After Cisco Scoops-Up Tandberg
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There been all types of speculation that Polycom, Inc. (Nasdaq: PLCM) could be a takeover target after Cisco (Nasdaq: CSCO) shelled-out $3 billion to buy rival Tandberg. Well the CEO is not denying that this could be the case.
When asked by Reuters if the company could be an acquisition target, Polycom CEO Robert Hagerty said, "I don't know. I suspect that could be the case."
Hagerty said right now the company is focused on partnership opportunities.
The video conferencing market is dominated by Polycom and Tandberg, which together have 75% of the market. With Tandberg gone, "there's only one left," Hagerty told Reuters.
Shares of Polycom are up 1% today.
When asked by Reuters if the company could be an acquisition target, Polycom CEO Robert Hagerty said, "I don't know. I suspect that could be the case."
Hagerty said right now the company is focused on partnership opportunities.
The video conferencing market is dominated by Polycom and Tandberg, which together have 75% of the market. With Tandberg gone, "there's only one left," Hagerty told Reuters.
Shares of Polycom are up 1% today.
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