Logitech Acquires SpotLife to Expand Video Service Offering
Fremont, CA - May 13, 2002 -- Logitech (Nasdaq:LOGI) (Switzerland:LOGN, LOGZ), an international market leader in PC video cameras, announced today that it is acquiring SpotLife, an Internet-enabled personal broadcasting service founded in November 1999 by Logitech and several venture capital partners, for approximately $2.5 million. Logitech plans to offer a portfolio of video services to complement its growing line of webcams, dualcams and digital cameras, building on SpotLife's hosting resources and experience in high-traffic operations. A number of existing SpotLife services will remain available to all webcam users, while additional services will be developed which will be specific to Logitech's products.
"Two years ago, we joined with several venture capital and industrial partners in creating SpotLife as a means to enhance the value of webcams and to increase consumer awareness of their potential," said Junien Labrousse, senior vice president of Logitech's Video Business Unit. "During the past two years, SpotLife introduced several personal broadcasting services that have grown an enthusiastic online community, now numbering in the millions. The integration of SpotLife into our Video Business Unit will provide the skill set, infrastructure and back-end support to develop and deploy further services to enhance the value of one of our fastest growing product families."
About Logitech: Founded in 1981, Logitech designs, manufactures and markets personal interface products that enable people to effectively work, play, and communicate in the digital world. The Company's product family includes Internet video cameras, mice and trackballs, keyboards, headsets and speakers, interactive gaming devices and 3D controllers.
With operational headquarters through its U.S. subsidiary in Fremont, California, and regional headquarters through local subsidiaries in Switzerland, Taiwan and Hong Kong, Logitech International is a Swiss public company traded in Switzerland on the Swiss Stock Exchange under the symbols LOGN and LOGZ, and in the U.S. on the Nasdaq National Market System (LOGI). The company has manufacturing facilities in Asia and offices in major cities in North America, Europe and Asia Pacific.