[November 11, 2009] Logitech announces acquisition of LifeSize Communications for USD405m cash Tweet Nov 11, 2009 (M2 EQUITYBITES via COMTEX) -- PC video communication company Logitech International (SIX:LOGN) (Nasdaq:LOGI) disclosed on Tuesday the intent to acquire Texas-based private high definition (HD) video communication solutions provider LifeSize Communications, for USD405m in cash. LifeSize has over 9,000 video conferencing customers in 80 countries in diverse businesses as well as public healthcare, education and government organisations. The two companies plan to develop an open eco-system for interoperable video communication with existing and new customers, further utilising their combined technology and expertise. Logitech will operate LifeSize as a separate division in Austin under Malloy as CEO reporting to Quindlen. LifeSize expects approximately USD90m in revenue in the current year 2009, with current year 2010 revenue expected to grow between 40% and 60%. Logitech stated that the acquisition, subject to customary closing conditions and antitrust approval, is expected to close in December and be neutral to slightly positive to its operating income in full year 2011, ending 31 March 2011 and positive thereafter. Comments on this story may be sent to [email protected] [ Back To TMCnet.com's Homepage ]