- To Acquire HP's Visual Collaboration Business Including Halo, Becomes an Exclusive Partner to HP for Telepresence and Certain Video UC Solutions, and Will Integrate Polycom's Video Applications in HP's WebOS Platform
- Establishes First and Only Open Video Exchange Cloud With World's Leading Service Providers
- Expands Strategic Relationships with Microsoft
- Announces 2-for-1 Stock Split
PLEASANTON, Calif. - Jun 01, 2011 : Polycom, Inc. (Nasdaq: PLCM), a global leader in unified communications (UC), today made several significant announcements with its Polycom Open Collaboration Network™ partners that will dramatically change the visual communications and UC industry, accelerate adoption of UC, and deliver on Polycom's UC Everywhere™ vision.
Polycom to Acquire HP's Visual Collaboration Business, Including Halo Products and Managed Services
Polycom announced today it is acquiring HP's Visual Collaboration business, including the Halo Products and Managed Services business. The companies also signed a strategic agreement that makes Polycom an exclusive partner to HP for telepresence and certain video UC solutions, including both resale and internal HP deployments, and integrates Polycom's video applications on HP's WebOS TouchPad product line. Shane Robison, executive vice president and chief strategy and technology officer for HP, will join Polycom CEO Andy Miller on today's webcast to discuss the strategic alliance.
Industry First - Open Visual Communications Consortium to Drive B2B and B2C Video Communication
Polycom also announced the revolutionary Open Visual Communications Consortium™ (OVCC™), a breakthrough open video exchange cloud with the world's leading service providers that will enable visual communications beyond corporate firewalls and proprietary video platforms. OVCC will enable global businesses to connect everywhere and will make it easy for millions to communicate via video similar to the simplicity of how mobile phones connect today.
In an unprecedented industry development, 14 top service providers around the globe have joined forces in OVCC to deliver B2B communication through the cloud. Founding members of OVCC include: Airtel, AT&T, BCS Global, BT Conferencing, Cable&Wireless Worldwide, Global Crossing, Glowpoint, iFormata Communications, Masergy, Orange Business Services, PCCW Global, Telefonica, Telstra, and Verizon. OVCC members will connect millions of users worldwide through agreements with hundreds of interconnected service providers across six continents. Polycom provides key components of this first global open video exchange cloud with the Polycom UC Intelligent Core™ infrastructure and Polycom's broad market-leading portfolio of world-class UC devices.
Polycom and Microsoft Expand Strategic Partnership and Extend Joint Development Agreements
Polycom's Miller and Microsoft Corporate VP Gurdeep Singh Pall will announce the development of two new breakthroughs in enterprise UC. These new solutions will expand the Microsoft and Polycom joint development and go-to-market activities on multiple fronts.
As a strategic Microsoft UC solution partner, Polycom and Microsoft are already executing on six strategic agreements. Polycom has delivered native integration with Lync across Polycom's UC Intelligent Core infrastructure, telepresence family, and voice endpoints. Polycom previously announced SVC, the underlying technology that enables Polycom and Microsoft to deliver the industry's most powerful telepresence application to hundreds of millions of Microsoft desktops.
2 For 1 Stock Split
Polycom also announced today that its Board of Directors approved a two-for-one split of its common stock to be effected in the form of a stock dividend. The stock split will entitle each stockholder of record at the close of business on June 15, 2011, to receive one additional share for every one share owned as of that date. The additional shares resulting from the stock split are expected to be distributed by the company's transfer agent on July 1, 2011. Upon completion of the stock split, Polycom will have approximately 176,000,000 shares of common stock outstanding.
"Today's announcements are a powerful testament to Polycom's momentum in the industry," said Polycom's Miller. "Polycom is leading the Unified Communications and Collaboration industry with innovative solutions that revolutionize the way people communicate, and these developments further enable the network effect that we are beginning to experience in video adoption. Through our deep partnerships with HP, Microsoft and other Polycom Open Collaboration Network Partners, we are confident that we have the right strategy in place to enable us to bring our UC Everywhere vision to life and drive broad UC adoption."
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