Santa Cruz audio communications gear manufacturer Plantronics is planning to purchase San Jose-based privately held video conferencing firm Polycom in a transaction valued at US$2 billion.

According to the Santa Cruz Sentinel, the cash-and-stock deal – which comprises about US$948 million in cash and 6.352 million Plantronics shares, as well as US$690 million in debt – has been unanimously signed off by the boards of directors of both parties, is subject to regulatory approvals, and is slated for completion by 30 September.