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Polycom (PLCM) Stock Catapults as Merger Talks Advance With Mitel Networks

NEW YORK (TheStreet) -- Polycom (PLCM - Get Report) shares are surging 10.24% to $11.95 in Wednesday's pre-market trading session as the provider of video and voice technology is in advanced discussions to be acquired by mobile communications company Mitel Networks (MITL).

The deal, which values Polycom at about $1.7 billion, may be announced as soon as next week, Bloomberg reports.

The price that Mitel would be paying to buy Polycom is said to be $12.50 a share.

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