PLEASANTON, Calif., March 26 -- Polycom, Inc. (NASDAQ:PLCM), the world's leading provider of unified collaborative communications solutions, today announced the expiration of the tender offer by its wholly-owned subsidiary, Spyglass Acquisition Corp., for all outstanding shares of SpectraLink Corp. (NASDAQ:SLNK). The subsequent merger to finalize the acquisition will close today, Monday, March 26, 2007. All remaining outstanding SpectraLink shares, other than those held by stockholders who properly perfect appraisal rights under Delaware law, will be converted into the right to receive $11.75 in cash. Following the merger today, SpectraLink will become a wholly-owned subsidiary of Polycom.
"We are delighted to complete our acquisition of SpectraLink," said Robert Hagerty, chairman and CEO of Polycom. "SpectraLink's technology, products, partnerships, and people provide Polycom with immediate leadership in the wireless telephony market. Now, by leveraging Polycom's proven strength in voice and video over IP (V2oIP), we have the unique ability to provide fixed and mobile solutions that seamlessly encompass voice, video, and content collaboration solutions from the desktop, to the meeting room, to the mobile individual."
Polycom, Inc. is the worldwide leader in unified collaborative communications (UCC) that maximize the efficiency and productivity of people and organizations by integrating the broadest array of high definition video, wired and wireless voice, and content solutions to deliver the ultimate collaborative experience. Polycom's high quality, standards-based conferencing and collaboration solutions are easy to deploy and manage, as well as intuitive to use. Supported by an open architecture, they integrate seamlessly with leading telephony, workplace wireless telephony, and presence-based networks. With its market-driving technologies, best-in-class products, alliance partnerships, and world-class service, Polycom is the smart choice for organizations seeking proven solutions and a competitive advantage from on-demand communications and collaboration. For additional information, call 800-POLYCOM or visit the Polycom web site at www.polycom.com
Source: Polycom, Inc.
Michael R. Kourey,
CFO of Polycom, Inc.,
Web site: www.polycom.com/