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SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
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FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHNAGE ACT OF 1934
DATE OF REPORT (DATE OF EARLIEST EVENT REPORTED): SEPTEMBER 3, 1997
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POLYCOM, INC.
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(Exact name of registrant as specified in charter)
Delaware 0-27987 94-3128324
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(State or other jurisdiction (Commission (IRS Employer
of incorporation) File Number) Identification No.)
2584 Junction Avenue, San Jose, California 95134
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(Address of principal executive offices) (Zip Code)
Company's telephone number, including area code: (408) 526-9000
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(Former name or former address, if changed since last report.)
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ITEM 5.
(a) On September 3, 1997, VTEL Corporation filed a lawsuit in the
District Court in Travis County, Texas against ViaVideo
Communications, Inc. and its founders (who were formerly employed
by VTEL). In the lawsuit, VTEL alleges breach of contract, breach
of confidential relationship, disclosure of proprietary
information, and related allegations.
In June of 1997, Polycom announced an agreement to acquire
ViaVideo Communications, Inc., a company dedicated to the
development of videoconferencing equipment for 9.7 million shares
of Polycom common stock, plus up to an additional 300,000 shares
based on future option grants by ViaVideo. The transaction is
expected to be completed during the fourth quarter of 1997
or the first quarter of 1998 and is subject to various
conditions which include the first customer shipment by
ViaVideo of its initial videoconferencing system no later
than March 31, 1998 and Polycom's share priced preceding
the acquisition to be at or above $3.00 per share. There can
be no guarantee that ViaVideo will meet the required milestones,
that the shareholders will approve the merger or of the market
acceptance and future profitability of this business.
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ITEM 7. FINANCIAL STATEMENTS, PRO FORMA FINANCIAL INFORMATION AND EXHIBITS.
(a) Financial Statements of Business Acquired. Not applicable.
(b) Forma Financial Information. Not applicable.
(c) Exhibits: None
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, as
amended, the Registrant has duly caused this report to be signed on its
behalf by the undersigned hereunto duly authorized.
POLYCOM, INC.
Dated: September 9, 1997 By: /s/ Michael R. Kourey
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Michael R. Kourey, Vice President,
Finance and Administration, Chief
Financial Officer and Secretary
[SIGNATURE PAGE TO FORM 8-K]
