In a bid to meet IP mobility demand, equipment maker Polycom Inc., said Wednesday it will acquire SpectraLink Corp. for about $220 million in cash.
Boulder, Colo.-based SpectraLink makes wireless telephone and messaging systems for businesses.
Polycom, which is based in Pleasanton, Calif., will purchase the outstanding shares of SpectraLink stock for $11.75 each. The deal has to go through the typical shareholder and regulatory approvals, but it is expected to close during the second quarter.
Polycom said it will use its channel partners to distribute the SpectraLink solutions.
Polycom Inc. www.polycom.com
SpectraLink Corp. www.spectralink.com