Polycom announces acquisition of Accordent Tech
Polycom, a unified communications (UC) player, announced the acquisition of Accordent Technologies, a video content management and delivery solutions provider, for approximately $50 million in cash. Polycom expects this acquisition to be neutral to earnings in 2011 and slightly accretive to earnings in 2012.
“We believe Accordent has the most elegant video content management solution on the market and by leveraging customer, channel, partner and product synergies with Polycom, this transaction positions Polycom at the forefront of end-to-end video and content management,” remarked Sudhakar Ramakrishna, chief development officer, Polycom.
The acquisition will see the integration Polycom’s open standards UC Intelligent Core and UC endpoints with Accordent’s open standards video content management solution. Accordent’s software-centric solution is expected to become an integral element of the Polycom UC Intelligent Core and will be reported with Polycom’s network infrastructure revenues.
According to Wainhouse Research, a market research firm, this acquisition expands Polycom’s total available market by $500 million and, for this video management segment, this market is projected to generate a compounded annual growth rate of 32 percent through 2014 to $1.2 billion. As a strategic partner with Microsoft, Accordent strengthens and further differentiates Polycom’s deep native integration with Microsoft Lync and Sharepoint.
“By integrating Accordent’s video content management solutions with Polycom’s unparalleled end-to-end video solution, we believe we can make this vision a reality as we harness the natural synergies between our two companies,” commented Mike Newman, previous CEO, Accordent.
As stated Accordent’s staff of 50 employees will remain in Southern California and will report into Polycom’s UC research and development organization.
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