Logitech agrees to buy LifeSize for $405 million

Logitech International, a PC video communication company, has agreed to acquire privately held Texas-based LifeSize Communications for $405 million (Dh1.48 billion).

LifeSize is a company specialising 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 organisations.

"We expect this acquisition to enable Logitech to extend our offering 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."

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.

"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," said Malloy.

Keep up with the latest business news from the region with the Emirates Business 24|7 daily newsletter. To subscribe to the newsletter, please click here.

Follow Emirates 24|7 on Google News.