Logitech to buy LifeSize Communications, Conferencing Advisors named LifeSize's #1 Dealer

Logitech to buy HD Video conferencing leader LifeSize Communications for 405 million on cash. Conferencing Advisors Inc. named LifeSize dealer of the year
Nov. 13, 2009 - PRLog -- Logitech International, a leader in PC video communication, today announced that it has agreed to acquire privately held LifeSize Communications of Austin, Texas for $405 million in cash

Conferencing Advisors Inc. is very pleased to be recognized as partner of the year by LifeSize Communications and to join the Logitech Family. Conferencing Advisors was also named Inc. Magazine's 107 fastest growing companies. Our rapid growth can in part be attributed to LifeSize's market changing product lines. LifeSize entered the Video Conferencing market with the first HD video conferencing system. LifeSize is the only manufacture that offers an 8 way HD bridge built in to the codec and full HD 60 frames per second and 1080p video systems across their product line with pricing  less than half  that of competing  products. LifeSize has just released a new Skype enabled HD video system that sells for under $2500.00. LifeSize vision has always been to bring high definition video to all. Logitech will be able to make this happen much sooner. Feel free to contact Conferencing Advisors for more details at (888) 823-2214

FREMONT, Calif. and ROMANEL-SUR-MORGES, Switzerland, Nov. 10, 2009 — Logitech International (SIX: LOGN) , a leader in PC video communication, today announced that it has agreed to acquire privately held LifeSize Communications of Austin, Texas for $405 million in cash. LifeSize is 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.
“We expect this acquisition to enable Logitech to extend our leadership in video communication beyond the desktop,” said Gerald P. Quindlen, Logitech president and chief executive officer. “Together we can make life-like, HD-quality video communication as mainstream and seamless as a telephone, for meeting participants in the boardroom, at their office desk, in a remote-location meeting room, telecommuting from home or on the go with a laptop.”

“LifeSize was founded on the vision of providing life-like visual-communication solutions to change the way the world communicates,” said Craig Malloy, LifeSize co-founder and chief executive officer. “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.”

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.

Logitech and LifeSize also expect to further video communication growth by leveraging their combined technology expertise as well as Logitech’s world-class manufacturing and supply chain operations, extensive R&D, expertise in user experience and globally recognized brand.

Logitech plans for LifeSize to operate as a separate division in Austin under the leadership of Mr. Malloy as the LifeSize Communications chief executive officer, reporting to Mr. Quindlen. LifeSize expects approximately $90 million in revenue in CY 2009, with CY 2010 revenue expected to grow between 40 percent and 60 percent. Logitech expects the acquisition to be neutral to slightly positive to its operating income (excluding acquisition-related charges) in FY 2011, ending March 31, 2011, and positive thereafter.

The acquisition is subject to customary closing conditions, including antitrust approval, and is expected to close in December.

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Founded in 2004, Conferencing Advisors is a leading provider of conferencing solutions, products, and services -including high definition video conferencing, telepresence, audio-visual integration and managed conferencing services.
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Phone:(888) 823-2214
Tags:Logitech, Lifesize, Hd Video, Skype, Telepresence, Tandberg, Polycom, Cisco, Sony, Video Conferencing, Video
Industry:Business, Technology, Electronics
Location:California - United States
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Page Updated Last on: Nov 16, 2009
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