Apax Partners Is In Negotiations With Polycom Inc. (PLCM, CSCO)
Private equity firm Apax Partners is currently engaged in discussions with Polycom Inc. (NASDAQ: PLCM) about a possible takeover. Apax Partners is expected to pay more than $3 billion for the acquisition. Both the companies have been negotiating since November of last year. Polycom (PLCM) shares have surged by 5 percent since November 30.
Polycom Inc. is a video conferencing outfit. The video conferencing market is going through a consolidation phase. Cisco Systems (NASDAQ: CSCO) is planning to acquire Norwegian video conferencing company Tandberg. Polycom and Tandberg jointly control 75% of the market. The market is expected to be worth $3.8 billion by 2013.
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