Plantronics to Acquire ClearVox
In September, Plantronics launched a new product line that includes features that address the needs of the mobile phone user: a powerful noise-canceling microphone to reduce background noise; in-line controls for listening volume and mute; a conformable earhook for fit and comfort; and broad selection of headset styles.
The addition of the ClearVox product line will further extend Plantronics mobile product offerings. It can offer retailers, distributors, wireless carriers, and OEMs a complete family of mobile headsets with a full range of price points, performance, and features.
The transaction is expected to close early in Plantronics' fourth fiscal quarter, which will begin Dec. 26, 1999 and end April 1, 2000. Although specific terms of the transaction were not disclosed, the company stated that the purchase price was not material to Plantronics.
Plantronics expects the transaction to have minimal effect on its reported earning per share (EPS) during the fourth fiscal quarter of the current fiscal year. It expects the acquisition to accrue EPS nominally beginning in the first fiscal quarter of the company's fiscal 2001, which commences on April 2, 2000.