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Friday, 26 March 2010

Bay Biz Buzz: Polycom won't be sold to Apax Partners

Pleasanton-based Polycom Inc. and private equity firm Apax Partners no longer are in discussions whereby the video conferencing and telepresence company would sell itself to Apax, a source familiar with the situation told Reuters. Apax had been in talks since November to take Polycom private for more than $3 billion, but Apax never made an offer. Polycom and Apax wouldn't comment. The video conferencing sector has experienced a flurry of acquisitions and is seen as a key growth area as companies seek to cut travel costs and innovate. San Jose-based Cisco Systems will buy Norway-based Tandberg. Logitech, which has a big operation in Fremont, bought LifeSize Communications. Polycom is focusing on expanding partnerships to battle Cisco, including one with Hewlett Packard.

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