Fremont, Calif. - Logitech today announced the
completion of its previously announced acquisition of LifeSize Communications,
a supplier of high-definition videoconferencing technology.
The $405 million deal, announced
last month, was an all-cash transaction.
Logitech said it expects the acquisition to drive growth in video
communication for the enterprise and small- and medium-business markets by
leveraging the two companies' many technology synergies including camera
design, firewall traversal, video compression and bandwidth management.
"We believe the video communication opportunity is at an
inflection point, providing us with a significant growth opportunity as we
bring new technologies and added value to office and home environments," said
Gerald Quindlen, Logitech president and CEO. "Through our combined strengths in
high-definition, high-quality Web cams, ease of use and interoperability, we
plan to capitalize on this opportunity by delivering disruptive price/
performance offerings to the market. Logitech is a leader in PC video
communications and LifeSize is a leader in HD video communications in the
meeting room. Together we can make life-like, HD-quality video communication