[November 12, 2009] Venture capital firms to sell LifeSize Communications to Logitech International Tweet Nov 12, 2009 (Datamonitor Financial Deals Tracker via COMTEX) -- Venture capital firms, Tenaya Capital, Austin Ventures, Norwest Venture Partners, Redpoint Ventures, Sutter Hill Ventures and Pinnacle Ventures have agreed to sell LifeSize Communications, Inc., a US-based provider of high definition video communications products, to Logitech International S.A. Logitech is a Switzerland-based manufacturer of computer peripherals. Logitech will acquire LifeSize for a cash consideration of $405 million. Following the transaction, LifeSize will operate as a separate division of Logitech in Austin, US. The transaction is expected to close in December 2009. Morgan Stanley is acting as financial advisor to Logitech on the transaction. Deal Type Venture Finance Sub-Category Exit Deal Status Announced: 2009-11-10 Deal Participants Target (Company) LifeSize Communications, Inc. Acquirer (Company) Logitech International S.A. Deal Rationale The acquisition will enble Logitech to extend its leadership position in video communication beyond the desktop. [ Back To TMCnet.com's Homepage ]