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Polycom Inc Announces Definitive Agreement To Divest Enterprise Wireless Voice Solutions Business
Polycom Inc announced a definitive agreement to divest its enterprise wireless voice solutions business to an affiliate of Sun Capital Partners, Inc. for gross proceeds of approximately $110 million in cash. The sale is expected to close within the third quarter of 2012, following the satisfaction of regulatory requirements and other customary closing conditions. Polycom’s Board of Directors has approved an increase in its current share repurchase authorization to include net proceeds of approximately $104 million from this transaction, contingent upon the sale of the enterprise wireless voice solutions business and receipt of the net proceeds from the sale.
Latest Developments for Polycom Inc
- Polycom Inc Names Kevin Parker As New Chairman Of Board
- Polycom Inc Announces New $100 Million Share Repurchase Program
- Polycom Inc Updates On Q2 2013 Revenue Guidance To A Range Below Analysts' Estimates; Issues Q2 2013 EPS Guidance In Line With Analysts' Estimates-Conference Call
- Polycom Inc Issues Q2 2013 Revenue Guidance Above Analysts' Estimates; Issues Q3 2013 Revenue Guidance; Issues Q4 2013 Revenue Guidance Below Analysts' Estimates-Conference Call
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