Logitech Completes Acquisition of LifeSize Communications
FREMONT, Calif. and ROMANEL-SUR-MORGES, Switzerland, Dec. 11, 2009 — Logitech International (SIX: LOGN) (Nasdaq: LOGI), today announced that it has completed the acquisition of LifeSize Communications, 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.
Logitech expects the acquisition to drive growth in video communication for the enterprise and SMB markets by leveraging the two companies’ many technology synergies – including camera design, firewall traversal, video compression and bandwidth management.
“We believe the video communication opportunity is at an inflection point, providing us with a significant growth opportunity as we bring new technologies and added value to office and home environments,” said Gerald P. Quindlen, Logitech president and chief executive officer. “Through our combined strengths in high-definition, high-quality webcams, ease of use and interoperability, we plan to capitalize on this opportunity by delivering disruptive price/ performance offerings to the market. Logitech is a leader in PC video communications and LifeSize is a leader in HD video communications in the meeting room. Together we can make life-like, HD-quality video communication mainstream.”
“Logitech and LifeSize form a powerful combination,” said Andrew W. Davis, senior partner, Wainhouse Research. “Logitech offers proven innovation in webcams and user-friendly, smart technology and LifeSize offers expertise in engineering leading price-performance HD video communications. These synergies make the combined company well positioned to make high definition video communications mainstream – from the enterprise conference room to the home. After all, why shouldn’t video be everywhere there is voice?”
Founded in 1981, Logitech International is a Swiss public company listed on the SIX Swiss Exchange (LOGN) and on the Nasdaq Global Select Market (LOGI).
This press release contains forward-looking statements, including among others, statements regarding Logitech’s expectations for the acquisition to drive growth in video communication by leveraging the technology synergies of Logitech and LifeSize, video communication being a significant growth opportunity for Logitech, Logitech’s plans to capitalize on the video opportunity, and the combined company being well positioned to make high-definition video communication mainstream. The forward-looking statements in this release involve risks and uncertainties that could cause Logitech’s actual results to differ materially from that anticipated in these forward-looking statements. Factors that could cause actual results to differ materially include: the retention of employees of LifeSize and the ability of Logitech to successfully integrate LifeSize’s market opportunities, technology, personnel and operations and to achieve anticipated results; competition in the video conferencing and communications industry, including from companies with greater resources, installed base and name recognition, and the rate of adoption of video communications in enterprises; as well as those additional factors set forth in Logitech’s periodic filings with the Securities and Exchange Commission, including our Annual Report on Form 10-K for the fiscal year ended March 31, 2009, and our subsequent Quarterly Reports on Form 10-Q available at www.sec.gov. Logitech does not undertake to update any forward-looking statements.
Logitech, the Logitech logo, and other Logitech marks are registered in Switzerland and other countries. All other trademarks are the property of their respective owners. For more information about Logitech and its products, visit the company’s Web site at www.logitech.com.
(LOGI – IR)