Logitech to acquire net video communications services provider SightSpeed
30 Oct 2008
Swiss personal peripheral products maker Logitech International has announced that it will acquire privately-held provider of internet video communications services, SightSpeed Inc, based in Berkeley, California, for approximately $30 million in cash. Subject to customary closing conditions, Logitech is expects the transaction to close next month.
Logitech said it did not expect the impact of the acquisition on Logitech's current fiscal year results to be material.
SightSpeed is an award-winning provider of high-quality Internet video communications services whose software compresses and transmits only the visual information the human eye requires, significantly reducing the data transmitted and communication delay. It also plans to make video calling beyond computer-to-computer, or phone-to-phone through to using TVs for greater viewing clarity.
The acquisition of SightSpeed, an award-winning provider of high-quality Internet video communications services, will provide Logitech with 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, for people sitting in front of a personal computer or with their family in a living room.
''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,'' said Junien Labrousse, executive vice president of Logitech's Products group.
''According to our research, there is a large untapped market of people who want to communicate with friends and family using video. But they want it to be integrated into their family lifestyle, which means going beyond the PC. We believe with SightSpeed we can help create the next wave of video communications enthusiasts.''
The SightSpeed services are based on SIP (Session Initiation Protocol), a standard that enables the services to be interoperable with other Internet communication services.
