Mouse maker spends big on video conferencing
Eeeek... how much?
Mouse and peripherals maker Logitech is splashing out $405m in cold, hard cash to buy Texan video conference company LifeSize.
LifeSize offers everything from enormous purpose-built video conference rooms to simple add-on bundles for home workers and small businesses.
It claims most of its kit is "HD-quality" and uses ordinary IP networks, not dedicated lines.
The two firms will combine tech expertise, R&D, manufacturing and supply chain expenses.
But LifeSize will continue to operate as a separate division, headquartered in Texas, under chief executive, and co-founder, Craig Malloy.
Malloy said he hoped the deal would allow the firms to accelerate adoption of the technology by all types of business. LifeSize hopes to bring in about $90m in revenue in 2009.
Video conferencing has long been one of the great disappointments of the tech industry - promising much but delivering little, and charging a fortune for it.
The deal should close in December, subject to the usual regulator and shareholder agreements. The full press release is here. ®