Poly, formerly Polycom, a part of
HP Inc.
HP Inc. is an American multinational information technology company headquartered in Palo Alto, California, that develops personal computers (PCs), printers and related supplies, as well as 3D printing solutions.
It was formed on Novembe ...
, is an American
multinational corporation
A multinational company (MNC), also referred to as a multinational enterprise (MNE), a transnational enterprise (TNE), a transnational corporation (TNC), an international corporation or a stateless corporation with subtle but contrasting senses, i ...
that develops video, voice and content collaboration and communication technology.
Polycom was co-founded in 1990 by
Brian L Hinman
Brian L. Hinman (born August 22, 1961 in Bethesda, Maryland) is an entrepreneur and investor in high technology businesses, especially the computer-based communications industry.
Hinman founded three successful (annual revenues greater than $500 ...
and Jeffrey Rodman.
[ In 2018 Polycom was acquired by ]Plantronics
Plantronics, Inc. is an American electronics company — branded Poly to reflect its dual Plantronics and Polycom heritage — producing audio communications equipment for business and consumers. Its products support unified communications, mob ...
[
]
and in 2019 the name of the combined entity was changed to Poly
Poly, from the Greek πολύς meaning "many" or "much", may refer to:
Businesses
* China Poly Group Corporation, a Chinese business group, and its subsidiaries:
** Poly Property, a Hong Kong incorporated Chinese property developer
** Poly Real ...
. In 2022, it was sold onwards to HP.
History
Polycom was co-founded in 1990 by Brian L Hinman
Brian L. Hinman (born August 22, 1961 in Bethesda, Maryland) is an entrepreneur and investor in high technology businesses, especially the computer-based communications industry.
Hinman founded three successful (annual revenues greater than $500 ...
and Jeffrey Rodman, who were colleagues at PictureTel Corp. The startup was based in San Francisco, California
San Francisco (; Spanish for " Saint Francis"), officially the City and County of San Francisco, is the commercial, financial, and cultural center of Northern California. The city proper is the fourth most populous in California and 17th ...
but soon moved to San Jose, California
San Jose, officially San José (; ; ), is a major city in the U.S. state of California that is the cultural, financial, and political center of Silicon Valley and largest city in Northern California by both population and area. With a 2020 popul ...
, with Hinman using $400,000 of his own money and $100,000 from friends as seed money. Oak Investment Partners
Oak Investment Partners is a private equity firm focusing on venture capital investments in companies developing communications systems, information technology, new Internet media, healthcare services and retail.
History
The firm, founded in 19 ...
and Accel Partners
Accel, formerly known as Accel Partners, is an American venture capital firm. Accel works with startups in seed, early and growth-stage investments. The company has offices in Palo Alto, California and San Francisco, California, with additional ...
then contributed an additional $3 million in venture capital.[ Polycom's stated goal was to develop solutions for all the major ways people communicate, specifically including audio, content such as documents, and video. Its first products to market were audio conferencing speaker phones. The company later added content sharing, video conferencing, video network and bridging, and system monitoring and management products.
Brian Hinman served as CEO from the company's founding in 1990 until 1998, when he was succeeded by Bob Hagerty. Hagerty was succeeded by Andy Miller in 2010. At Polycom, Miller was with several expense and accounting violations by the SEC in 2012, and settled with the SEC by agreeing to not serve as an officer for any company for five years. Miller left Polycom after being paid $24 million USD in compensation. He was succeeded as CEO by Peter Leav, who was then succeeded in 2016 by Mary McDowell following Polycom's acquisition by Siris Capital Group.
The firm employed approximately 3,800 employees in 2014.]
In 2015, Polycom cut 15% of its workforce after posting large dips in sales.
Polycom reported revenues of $1.3 billion for the year of 2015. Peter Leav at that point was both president and CEO, and Laura Durr was chief financial officer and executive vice president (EVP).
Acquisitions of Poly
In 2016, telecommunications executive Mary McDowell was named as its chief executive officer. On April 15, 2016, Polycom announced that rival Mitel Networks
Mitel Networks Corporation is a Canadian telecommunications company. The company previously produced TDM PBX systems and applications, but after a change in ownership in 2001, now focuses almost entirely on Voice-over-IP (VoIP) products. Mitel ...
would purchase them for $1.96 billion. As Mitel, a smaller company based in Ottawa, Ontario
Ottawa (, ; Canadian French: ) is the capital city of Canada. It is located at the confluence of the Ottawa River and the Rideau River in the southern portion of the province of Ontario. Ottawa borders Gatineau, Quebec, and forms the core ...
, Canada
Canada is a country in North America. Its ten provinces and three territories extend from the Atlantic Ocean to the Pacific Ocean and northward into the Arctic Ocean, covering over , making it the world's second-largest country by tot ...
, paid a lower tax rate, the acquisition would have been an example of tax inversion
A tax inversion or corporate tax inversion is a form of tax avoidance where a corporation restructures so that the current parent is replaced by a foreign parent, and the original parent company becomes a subsidiary of the foreign parent, thus mov ...
, where a smaller company purchases a larger company in order to provide the combined larger corporate entity with the tax benefits of the smaller company's location. In July 2016, the Mitel deal was scrapped in favor of an all-cash offer from New York City–based private equity firm Siris Capital Group. Siris acquired Polycom for $1.7 billion.
In 2017, Polycom had revenues of $1.1 billion. On March 28, 2018, Plantronics
Plantronics, Inc. is an American electronics company — branded Poly to reflect its dual Plantronics and Polycom heritage — producing audio communications equipment for business and consumers. Its products support unified communications, mob ...
announced that it would acquire Polycom for approximately $2 billion. On December 27, 2018, Plantronics agreed to pay $36 million to settle a bribery investigation connected to Polycom. The United States Justice Department
The United States Department of Justice (DOJ), also known as the Justice Department, is a United States federal executive departments, federal executive department of the United States government tasked with the enforcement of federal law and a ...
declined to bring criminal charges for misconduct that allegedly occurred between 2006 and 2014, citing Polycom's voluntary disclosure.
On March 28, 2022 HP Inc.
HP Inc. is an American multinational information technology company headquartered in Palo Alto, California, that develops personal computers (PCs), printers and related supplies, as well as 3D printing solutions.
It was formed on Novembe ...
announced their acquisition of Poly from Plantronics, completed in August of 2022 with a total transaction value of $3.3 billion, including debt.
Acquisitions by Poly
Note : 1 June 2011 – HP and Polycom, announced they have entered into a definitive agreement under which Polycom will acquire the assets of HP's Visual Collaboration (HPVC) business, including the Halo Products and Managed Services business of HPVC.
Products
The company also licensed a variety of technologies, including H.264
Advanced Video Coding (AVC), also referred to as H.264 or MPEG-4 Part 10, is a video compression standard based on block-oriented, motion-compensated coding. It is by far the most commonly used format for the recording, compression, and distr ...
video codecs, Siren codecs, Session Initiation Protocol
The Session Initiation Protocol (SIP) is a signaling protocol used for initiating, maintaining, and terminating communication sessions that include voice, video and messaging applications. SIP is used in Internet telephony, in private IP telepho ...
(SIP), native 1080p high-definition cameras and displays, native 720p and 1080p high-definition encoding/decoding, low- latency architecture and low bandwidth
Bandwidth commonly refers to:
* Bandwidth (signal processing) or ''analog bandwidth'', ''frequency bandwidth'', or ''radio bandwidth'', a measure of the width of a frequency range
* Bandwidth (computing), the rate of data transfer, bit rate or thr ...
utilization, wideband advanced audio coding with low delay
Delay (from Latin: dilatio) may refer to:
Arts, entertainment, and media
* ''Delay 1968'', a 1981 album by German experimental rock band Can
* ''The Delay'', a 2012 Uruguayan film
People
* B. H. DeLay (1891–1923), American aviator and acto ...
(AAC-LD
The MPEG-4 Low Delay Audio Coder (a.k.a. AAC Low Delay, or AAC-LD) is audio compression standard designed to combine the advantages of perceptual audio coding with the low delay necessary for two-way communication. It is closely derived from the ...
), multichannel spatial audio
Surround sound is a technique for enriching the fidelity and depth of sound reproduction by using multiple audio channels from speakers that surround the listener ( surround channels). Its first application was in movie theaters. Prior to sur ...
with echo cancellation
Echo suppression and echo cancellation are methods used in telephony to improve voice quality by preventing echo from being created or removing it after it is already present. In addition to improving subjective audio quality, echo suppression i ...
and interference filters to eliminate feedback from mobile devices, and inter-operation with legacy video conferencing.
SoundStation
Its first product in 1992 was SoundStation, a triangular speakerphone with full-duplex audio allowing both parties to simultaneously speak and be heard. SoundStation and its successor, SoundStation Premier became the leading brand in the market in the 1990s.
The SoundStation was superseded by the SoundStation 2 in 2004 when AT&T discontinued the AT&
DSP16A
processor on which the original SoundStation was based. Building on technological advancements that occurred during the nearly 10-year period, the SoundStation 2 exhibited more features and improved sound transparency, although was still limited to 3 kHz audio bandwidth due to its conventional analog POTS connection.
It was supplemented by the SoundStation 2W wireless speakerphone
A speakerphone is a telephone with a microphone and loudspeaker provided separately from those in the handset. This device allows multiple persons to participate in a conversation. The loudspeaker broadcasts the voice or voices of those on the ot ...
, which was a DECT
Digital enhanced cordless telecommunications (Digital European cordless telecommunications), usually known by the acronym DECT, is a standard primarily used for creating cordless telephone systems. It originated in Europe, where it is the common ...
system (WDCT in North America), and by the SoundStation VTX1000 wired speakerphone, the first POTS speakerphone capable of 7 kHz audio or HD Voice
Wideband audio, also known as wideband voice or HD voice, is high definition voice quality for telephony audio, contrasted with standard digital telephony "toll quality". It extends the frequency range of audio signals transmitted over telephone ...
operation over conventional telephone lines.
Audio Products
When the first SoundStation conference phone shipped in 1992. The original device was followed by versions offering extended performance (SoundStation Premier, Premier Satellite, SoundStation EX). The SoundStation first shipped internationally (to the UK) in 1993, followed by other products and an expanding list of countries.
In December 2001, Polycom acquired ASPI networks, a company specializing in installed voice systems including the ASPI Vortex. With the 12-input and 12-output Vortex, Polycom's offerings could be extended to audio visual integrators who needed to handle many more microphones and speakers than traditional teleconferencing systems provided. In 2007, Polycom introduced the Vortex successor, the Polycom SoundStructure series.
In the first quarter of 2001, Polycom introduced its first voice over IP
Voice over Internet Protocol (VoIP), also called IP telephony, is a method and group of technologies for the delivery of speech, voice communications and multimedia sessions over Internet Protocol (IP) networks, such as the Internet. The terms In ...
conference phone, the SoundStation IP 4000. In 2008, the SoundStation IP 6000 and SoundStation IP 7000 models were introduced, both offering Polycom's HD Voice
Wideband audio, also known as wideband voice or HD voice, is high definition voice quality for telephony audio, contrasted with standard digital telephony "toll quality". It extends the frequency range of audio signals transmitted over telephone ...
and Acoustic Clarity technology. In 2003, the firm introduced its first HD Voice product, the SoundStation VTX 1000 conference phone. In 2006, Polycom introduced its Communicator, the C100S, which was the industry's first HD Voice
Wideband audio, also known as wideband voice or HD voice, is high definition voice quality for telephony audio, contrasted with standard digital telephony "toll quality". It extends the frequency range of audio signals transmitted over telephone ...
speakerphone for a PC.
In 1998, the firm entered the circuit-switched desktop phone business with a line of SoundPoint phones. In the third quarter of 2001, it entered the IP desktop phone business with the SoundPoint IP product line, starting with the SoundPoint IP500. Polycom VoIP phones use the open standard SIP to work with different call control platforms.
In 2007, Polycom acquired Spectralink Corp., whose product lines consisted of Wi-Fi
Wi-Fi () is a family of wireless network protocols, based on the IEEE 802.11 family of standards, which are commonly used for local area networking of devices and Internet access, allowing nearby digital devices to exchange data by radio wave ...
and proprietary wireless telephone systems, as well as the KIRK DECT
Digital enhanced cordless telecommunications (Digital European cordless telecommunications), usually known by the acronym DECT, is a standard primarily used for creating cordless telephone systems. It originated in Europe, where it is the common ...
product line.
In 2008, Polycom added applications enablement to its SoundStation and SoundPoint IP phones. The first product to market was the company's Productivity Suite, for which the company offered an open API
An application programming interface (API) is a way for two or more computer programs to communicate with each other. It is a type of software interface, offering a service to other pieces of software. A document or standard that describes how ...
for third-party developers.
In 2009, the firm introduced two video-enabled voice products. One was the VVX 1500 business media phone, which combines a personal video conferencing system with a voice over IP (VoIP) telephone having HD Voice and an open API and Web browser. It also launched the CX5000, a table-mounted video and audio conferencing console with a 360-degree camera, by licensing the distribution rights for Microsoft Roundtable
Microsoft RoundTable was a videoconferencing device with a Omnidirectional camera, 360-degree camera that was designed to work with Microsoft Office Communications Server 2007 or Microsoft Office Live Meeting. RoundTable provided remote meeting p ...
.
In 2011, Polycom announced the VVX 500, a VoIP business media phone with a gesture-based touchscreen interface.
In 2012 the Wifi and DECT products were divested to a new company called Spectralink, spinning it off to Sun Capital Partners
Sun Capital Partners, Inc., is an American private equity firm specializing in leveraged buyouts. Sun Capital was founded in 1995 by Marc J. Leder and Rodger Krouse, former classmates at the Wharton School of the University of Pennsylvania and ...
for about $110 million.
Video Products
Polycom entered the video conferencing market in 1998 with the set-top unit ViewStation which integrated a PTZ (pan-tilt-zoom) camera with codec and communication electronics, and connected to a user-supplied video monitor on which it was designed to sit. ViewStation sold at the time for US$6000, and was relatively lightweight compared to competitors.
Polycom began the development of its first product in the new category of "Document Conferencing Projector", called ShowStation in 1994. In April 1996, Polycom went public on NASDAQ. In 1997, the company began shipping ShowStation in addition to its growing line of audio products and had total revenues of $47 million.
In January 1998, Polycom acquired ViaVideo
Poly, formerly Polycom, a part of HP Inc., is an American multinational corporation that develops video, voice and content collaboration and communication technology.
Polycom was co-founded in 1990 by Brian L Hinman and Jeffrey Rodman. In 2018 P ...
for $54 million and its video conferencing product, which would be named ViewStation. The compact device provided the functionality of a webcam and included additional onboard processing capabilities to offset the computation limitations of most desktop and laptop computers at the time. As computer processing power increased, Polycom transitioned this hardware-software desktop solution to software-only clients called Polycom PVX, and later the Polycom RealPresence Desktop, or RPD.
Other members of the ViewStation product line included models with embedded multipoint capabilities, content sharing capabilities, and support for the emerging H.323
H.323 is a recommendation from the ITU Telecommunication Standardization Sector (ITU-T) that defines the protocols to provide audio-visual communication sessions on any packet network. The H.323 standard addresses call signaling and control, m ...
IP network protocol.
In February 2001, Polycom entered the multipoint bridging market through its acquisition of Accord Networks, which offered the MGC-100 line. In October 2001, it acquired PictureTel.
In 2006, Polycom introduced its first HD (High Definition) video conferencing system. Soon after, it announced the Polycom RealPresence Experience (RPX), a three-screen, three-camera room-within-a-room "immersive" teleconferencing system based on a design by Destiny Conferencing (formerly TeleSuites) which Polycom acquired in January 2007.
In February 2007, the firm introduced a new multipoint bridge platform called RMX 2000 designed to support HD and telepresence applications. It also expanded its telepresence and HD video product lines in 2007 with the Polycom Telepresence Experience solutions, and new executive desktop solutions, which further expanded its line of room-based conference rooms.
In 2008, Polycom delivered the Polycom Converged Management Application (CMA) a video network and system management application for video networks. Later that year, the firm introduced the Distributed Media Application (DMA) 7000, a network-based application that manages and distributes multipoint video calls within a network. Toward the end of 2008, Polycom also announced its plans to increase performance of its systems from 30 to 60 frames per second at higher resolution – 1080p
1080p (1920×1080 progressively displayed pixels; also known as Full HD or FHD, and BT.709) is a set of HDTV high-definition video modes characterized by 1,920 pixels displayed across the screen horizontally and 1,080 pixels down the screen vert ...
and 720p
720p (1280×720 px; also called HD ready, standard HD or just HD) is a progressive HDTV signal format with 720 horizontal lines/1280 columns and an aspect ratio (AR) of 16:9, normally known as widescreen HDTV (1.78:1). All major HDTV broadcast ...
. In 2010, the firm introduced the Polycom Open Telepresence Experience (OTX 300), another three-screen immersive conference system with improved data-efficient codecs that used half the data bandwidth of other comparable systems at the time.
In 2011, Polycom posted $1.5 billion in revenue.
References
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Manufacturing companies based in San Jose, California
Companies formerly listed on the Nasdaq
Telecommunications equipment vendors
Teleconferencing
Videotelephony
Technology companies based in the San Francisco Bay Area
American companies established in 1990
Electronics companies established in 1990
Telecommunications companies established in 1990
1990 establishments in California
1996 initial public offerings
2016 mergers and acquisitions
2018 mergers and acquisitions