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,
, 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 mainstream."