Published June 19, 2001
Volume 9, Number 6
Polycom Leases 50,000 Square Feet at New Facility
Industry-Leading Audio, Video Conferencing Company Coming to Park
Construction has begun on Polycom's Hacienda location.
By Jay Hipps
Polycom, the industry leader in voice and video conferencing, has signed a lease for a new, 50,000 square foot facility currently under construction at 4750 Willow Road in Hacienda.
"The construction is scheduled to continue for the rest of this year, with our interior build-out and tenant improvements coming after the new year," says Tom Perkins, vice president of human resources for the firm. "Move-in should be sometime next spring."
The facility is likely to accommodate 100 to 150 employees, although it has not yet been determined by the company what business functions will be conducted there.
Despite the lack of concrete plans for the facility, Perkins says that it will play a critical role in the company's continued growth.
"We've been offered additional space in Silicon Valley that we're not interested in because it's so hard to find and attract people due to the high cost of living and the commute," he notes. "We decided that we need to tap into more resources and make ourselves more attractive to the talent pool, and we weren't going to do it by expanding here in the South Bay."
The company is currently headquartered in Milpitas.
A Strong Rate of Growth
Polycom, which enjoys an approximate 70 percent market share in audio and video conferencing, has seen tremendous growth over the past five years. Annual revenues have risen from $46.6 million in 1997 to $339.6 million in 2000. The company recorded revenues of $96.2 million in the quarter ending March 2001, which puts Polycom on track for another record-breaking year.
In May, the company acquired PictureTel in a deal valued at $362 million. The purchase will allow Polycom to add PictureTel's line of PC-based videoconferencing products to its existing line of stand-alone video conferencing appliances.
In addition to its audio and video conferencing divisions, Polycom has divisions which focus on network access and network infrastructure.
Savings of Time, Money
One of the keys to the company's continued growth is the fact that its use can lead directly to bottom line savings.
"Polycom is working with major U.S. corporations that are utilizing videoconferencing equipment as a cost saving and productive way for employees to effectively communicate while located across the country and around the world, without increasing business travel costs," explains Nicole Kenyon, a spokesperson for the company.
Polycom's star-shaped audio conferencing phones are familiar sights in virtually every Fortune 1000 conference room. That product line will be expanded shortly as the company continues to refine and update their product offering.
Also in this issue ...
- Polycom Leases 50,000 Square Feet at New Facility
- PacketStream's First Product a Bandwidth Wizard
- Business Bits
- Executive Profile — David L. Rhodes, Unisource
- Rockwell Automation Makes it Better, Faster, Stronger
- Hacienda Restaurants Cater to Every Taste
- Amador Valley Assistance League has a Simple Goal: Reaching Out to Those in Need
- Winegrowers Association Offers Tours, Tasting, and More
- Summer is Here and That Means It's Time to Spare the Air
- Hacienda Index