Computer peripherals maker Logitech has announced that it is acquiring video conferencing company LifeSize, in a deal worth $405 million in cash. The company offers a range of HD video conferencing solutions from large purpose-built video conference rooms to cost-effective add-on bundles for small businesses and remote workers.
Logitech is already a well-known consumer brand with products aimed at the consumer market, but the deal is expected to extend its reach in the video conferencing space beyond the desktop and propel them into competition with firms such as Cisco and Polycom.
The two firms will combine tech expertise, R&D, manufacturing and supply chain expenses, but LifeSize will continue to operate as a separate division under the leadership of co-founder and chief executive, Craig Malloy. The acquisition is expected to close in December, subject to the usual regulator and shareholder agreements.