TMCnet News
Polycom Buys Telepresence Provider for $47.6M TMCnet Contributing Editor Polycom (News - Alert) announced Monday that it acquired Dayton, Ohio-based Destiny Conferencing Corp., a privately held telepresence technology provider, for $47.6 million.
Destiny’s telepresence technology has already been incorporated into Polycom’s videoconferencing products. The technology is also the basis for Polycom's RPX telepresence offering. The acquisition has awarded Polycom with several core, telepresence technology patents.
“With the Polycom HDX 9000 high-definition video platform at the core of this immersive solution, Polycom can provide the best telepresence experience through standards-based video technology,” declared Polycom’s chairman and CEO, Robert Hagerty, in a statement. “In fact, driven by our RPX platform, we are gaining unprecedented visibility with ‘C-level’ management within enterprise customers, government agencies, and educational institutions. This solution unleashes the power of IP-based collaboration to a level that has previously not been possible.”
The specific financial terms of the acquisition transaction included Polycom purchasing Destiny for $47.6 million in cash, including repayment of debt and an escrow amount. Destiny shareholders could receive up to an additional $10 million of consideration through 2009.
Polycom is reportedly bringing on board Destiny’s 27 employees, which are mostly stationed in Dayton.
“Destiny long ago determined that Polycom's video innovations are the best in the industry and, coupled with their global market leadership, is pleased to join Polycom as they capture the wave of telepresence adoption,” said David Allen, president and CEO of Destiny Conferencing, in a statement.
Allen added: “Through this acquisition, Polycom not only gains core intellectual property, but inherits key telepresence customer relationships with organizations such as Capital One, AOL (News - Alert), and Deloitte & Touche.”
Polycom is making strides in the teleconferencing arena with its telepresence system. Indeed, the company made news last month when it joined Verizon Business to offer the Polycom RPX modular conference suite for more "lifelike" virtual meetings. The system was developed by Polycom and it is said to be enhanced with the use of Verizon (News - Alert) Business' IP
 network services.The new offering is comprised of Verizon Business' Private IP network and Ethernet services combined with Polycom's RealPresence Experience (RPX) suite of telepresence systems. RPX systems offer a simulation of a face-to-face telecommunication via a video transmission. They are sold as custom rooms with flat-screen projection displays, ceiling microphones and pop-up LCD screens for sharing data. The modular rooms come in six configurations and can accommodate from four to 28 participants.
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Johanne Torres is contributing editor for TMCnet and Internet Telephony magazine. To see more articles by Johanne Torres, please visit her columnist page.
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