Logitech International, Company in PC video communication, announced that it has agreed to acquire privately held LifeSize Communications of Austin, Texas for $405 million in cash. LifeSize high definition (HD) video communication solutions company, 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.
Speaking about the acquisition, Craig Malloy, Co-founder and Chief Executive Officer, LifeSize, 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. 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.
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