Logitech to buy LifeSize Communications for $405 million
Logitech has announced that it has agreed to acquire privately held, Austin, Texas-based LifeSize Communications for $405 million in cash.
LifeSize specialises in "high definition video communication solutions", boasting more than 9000 video conferencing customers across 80 countries in the business sector.
"We expect this acquisition to enable Logitech to extend our leadership in video communication beyond the desktop", said Gerald P. Quindlen, Logitech president and chief executive officer.
"Together we can make life-like, HD-quality video communication as mainstream and seamless as a telephone, for meeting participants in the boardroom, at their office desk, in a remote-location meeting room, telecommuting from home or on the go with a laptop".
LifeSize will continue to operate as a separate division in Austin reporting to Logitech.