Logitech To Acquire Video Communications Provider SightSpeed
By Staff -- TWICE, 11/3/2008
FREMONT, CALIF. — Logitech has agreed to acquire SightSpeed, a publicly held provider of Internet video communications services based in Berkeley, Calif., for $30 million in cash.
According to Logitech, the deal provides the company "with SightSpeed's video calling technology and a software and services development team that can be focused on future video calling initiatives that can enable cross-platform video communications with an intuitive, lifelike experience"
Said Junien Labrousse, executive VP of Logitech's products group, in a prepared statement, "With this acquisition, we are significantly augmenting our current video R&D resources to help us move more quickly toward our goals for video services that complement the way people socialize, communicate and enjoy entertainment. We believe with SightSpeed we can help create the next wave of video communications enthusiasts."
SightSpeed's video chat and video conferencing services are based on Session Initiation Protocol, a standard that enables the services to be interoperable with other Internet communication services such as video email and instant messaging.
Founded in 2001, SightSpeed has approximately 25 employees.
The acquisition is expected to close in early November.
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