Logitech acquires LifeSize Communications for $405 million

In its largest ever acquisition so far, Logitech International (Logitech), a world leader in computer peripherals, agreed to acquire LifeSize Communications (LifeSize), leader in video conferencing, for $405 million in cash, and take on rival Cisco Systems and Tandberg in the highly competitive video-conferencing equipment market.

Logitech is a Swiss public company and world leader in computer peripherals, internet communications, digital music, home-entertainment control, gaming and wireless devices. Logitech shares are listed on the SIX Swiss Exchange and Nasdaq.

Austin, Texas-based LifeSize is a global leader in HD video communication solutions with more than 9,000 customers across 80 countries including business enterprises, healthcare, education and government organizations, and provides flexible, easy to use price competitive solutions for video conferencing.

LifeSize is backed by a group of venture capital firms Norwest, Austin Ventures, Norwest Venture Partners, Redpoint Ventures, Sutter Hill Ventures and Pinnacle Ventures.

Logitech president and chief executive officer Gerald Quindlen said: "We expect this acquisition to enable Logitech to extend our leadership in video communication beyond the desktop.''

He further added that together with LifeSize, Logitech can make life-like, HD-quality video communication as mainstream and seamless as telephone for meetings from home or on the go with a laptop.