Logitech International SA, a Swiss manufacturer of keyboards and webcams, has terminated discussions to acquire Plantronics Inc, a U.S. maker of Bluetooth earpieces and gaming headsets.
Logitech on Sunday confirmed a previous Reuters report claiming that the Swiss company was engaged in discussions with Plantronics regarding a potential transaction. However,those discussions were terminated, the company said.
According to Reuters, Logitech had offered more than $2.2 billion, an amount higher to Plantronics' market capitalization.
Logitech has been countering declining sales of personal computers by focusing on consumer accessories that are benefiting from the growth of cloud computing, such as gaming, music, smart home connectivity and video conferencing.
Facing competition from Microsoft and Google owner Alphabet, Logitech acquired last ASTRO Gaming for $85 million in cash to expand in the video game sector.
Plantronics makes unified communications systems, wireless headsets, conferencing systems, and some software, which it sells to businesses and consumers.
In July, Plantronics acquired U.S. video-conferencing equipment maker Polycom Inc. for $2 billion.