FREMONT, Calif. & ROMANEL-SUR-MORGES, Switzerland, Dec 11, 2009 (BUSINESS WIRE) -- 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?"
About Logitech
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)
SOURCE: Logitech International
Logitech International
Joe Greenhalgh, 510-713-4430
Vice President, Investor Relations - USA
Nancy Morrison, 510-713-4948
Vice President, Corporate Communications - USA
Ben Starkie, +41-(0) 21-863-5195
Public Relations Manager - Europe
or
LifeSize Communications
Stacy Saxon, 512-623-4250
Dir. Global Corp. Marketing - USA
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