With the holiday season now in full-swing, it looks like Logitech has been doing a little shopping of its own. In what’s likely a bid to diversify its products, Logitech, widely known for making computer accessories like keyboards and mice, is reportedly close to finalizing a deal to acquire Plantronics, a manufacturer of Bluetooth earpieces and headsets.
Neither Logitech nor Plantronics have commented on the news, but the report comes from Reuters, citing unnamed sources. Logitech’s bid is said to be valued at $2.2 billion, making it the company’s largest acquisition to date. While the acquisition isn’t yet set in stone, it’s expected to be finalized by as early as next week.
According to the sources familiar with the negotiations, both Swiss-based Logitech and California-based Plantronics are eager to reduce manufacturing costs following the recent introduction of tariffs on imports from China to the US. This would make the acquisition beneficial to both companies, as well as help Logitech keep up with increasing competition in the wireless headphone market.
Just earlier this year Plantronics made its own $2 billion acquisition of Polycom, a manufacturer of video-conferencing equipment. The last year has also seen Logitech increasing its efforts to expand its umbrella of products, including July’s purchase of Blue Microphones for $117 million, and last year’s $85 million acquisition of Astro, the maker of gaming-focused headsets.