Logitech buys vidcon firm LifeSize for €270 m
Logitech, best known for its PC peripherals, is taking on the big players in the conferencing business with the acquisition of vidcon firm LifeSize.
The Swiss-US company yesterday said it would buy LifeSize Communications for around €270 million in cash.
The move puts Logitech into play against heavyweights such as Cisco, Microsoft, HP and IBM, and specialists like Polycom.
Logitech already sells webcams as well as computer mice, keyboards and other accessories. LifeSize sell vidcon gear at prices well below other players.
With the acquisition, Logitech aims to “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,” Logitech CEO Gerald P. Quindlen said.
LifeSize CEO Craig Malloy told BusinessWeek that “the opportunity is drive price points to the point that it’s a no-brainer for every office and conference room in the world.”
Last month LifeSize released the Skype-compatible Passport, a small device priced at less than US$2,500 that delivers high-def videoconferencing over televisions or computers.