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Logitech Acquires Harmony Remote Controls

5/06/2004 10:37:00 AM Eastern

Fremont, Calif. — Logitech International has purchased remote-control maker Intrigue Technologies for $29 million in cash, plus a possible performance-based payment tied to reaching certain future revenue for Intrigue’s Harmony Remote advance remote controls.

Mississauga, Ontario-based Intrigue is a privately held company that has pioneered an approach to solving the problem of too many remote controls in each household. Its line of advanced remote controls is designed to be easy to set up and use as well as affordable.

Logitech’s acquisition is part of a strategy to expand its presence in the digital living room. The company already offers controllers and audio products for console gaming. Logitech said it plans to build sales momentum by combining its experience in control devices for the PC, namely the mouse, with Intrigue’s experience and technology — looking to become the leader in an emerging market category.

"We believe the advanced remote control will establish itself as the ‘mouse of the digital house,’" said David Henry, senior VP of Logitech’s control devices business unit. "Logitech is uniquely positioned to do for the emerging digital devices in the living room what it has already done for the PC."

Publicly-held Logitech expects the acquisition to add $10 million to $20 million in sales during its current fiscal year, with an immaterial effect on operating income.

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