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Logitech to Acquire LifeSize Communications
Logitech International, a leader in PC video communication, today announced that it has agreed to acquire privately held LifeSize Communications of Austin, Texas for $405 million in cash.
FREMONT, Calif. & ROMANEL-SUR-MORGES, Switzerland--(BUSINESS WIRE)--Logitech International (SIX:LOGN) (Nasdaq:LOGI), a leader in PC video communication, today announced that it has agreed to acquire privately held LifeSize Communications of Austin, Texas for $405 million in cash. LifeSize is a global leader in high definition (HD) video communication solutions, with more than 9,000 video conferencing customers across 80 countries in large enterprises, small-to-medium businesses (SMBs) and public healthcare, education and government organizations.
LifeSize's industry leading HD video conferencing solutions provide superior quality of experience and are flexible, easy to use, install and manage - with unmatched price/performance.
"We expect this acquisition to enable Logitech to extend our leadership in video communication beyond the desktop," said Gerald P. Quindlen, Logitech president and chief executive officer. "Together we can make life-like, HD-quality video communication as mainstream and seamless as a telephone, for meeting participants in the boardroom, at their office desk, in a remote-location meeting room, telecommuting from home or on the go with a laptop."
"LifeSize was founded on the vision of providing life-like visual-communication solutions to change the way the world communicates," said Craig Malloy, LifeSize co-founder and chief executive officer. "We believe that together with Logitech, we can realize that vision for all enterprises - private and public - and small and medium businesses. Our combined proven innovation can accelerate mainstream adoption of video communication by anyone, anywhere."
Logitech and LifeSize plan to pursue existing and new relationships with unified communications, collaboration and VoIP industry partners and competitors to drive the development of an open eco-system for interoperable video communication.
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