Polycom, Inc. (Nasdaq:PLCM), the global leader in open, standards-based unified communication and collaboration (UC&C), today announced that it has commenced a modified “Dutch Auction” cash tender offer to purchase up to $250 million in value of its common stock at a price range that is not greater than $11.50 nor less than $10.00 per share. The number of shares proposed to be purchased in the tender offer (at the minimum purchase price of $10.00 per share) represents approximately 14.7 percent of the Company’s outstanding common stock as of September 9, 2013. The tender offer will expire at 5 p.m. New York City time, on October 30, 2013, unless extended. Tenders of shares of the Company’s common stock must be made on or prior to the expiration of the tender offer and may be withdrawn at any time prior to the expiration of the tender offer. The tender offer is subject to a number of terms and conditions described in the Offer to Purchase that will be distributed to stockholders. A modified “Dutch Auction” tender offer allows stockholders to indicate how many shares and at what price(s) they wish to tender their shares within the specified share price range. Based on the number of shares tendered and the prices specified by the tendering stockholders, Polycom will determine the lowest per share price within the range that will enable it to purchase $250 million of its common stock or such lower amount equal to the value of the shares that are properly tendered and not properly withdrawn. If, based on the final purchase price determined in the tender offer, more than $250 million in value of shares are properly tendered and not properly withdrawn, Polycom will purchase all shares tendered at or below the final purchase price on a pro rata basis as specified in the offer to purchase, subject to the “odd lot” and conditional tender offer provisions described in the Offer to Purchase. In accordance with the rules of the Securities and Exchange Commission, Polycom may increase the value of shares purchased in the offer and thereby increase the number of shares accepted for payment in the offer by no more than 2 percent of Polycom’s outstanding shares without amending or extending the tender offer.