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Logitech Gains Video Conferencing With SightSpeed Purchase
11:51 AM EDT Wed. Oct. 29, 2008
Logitech has agreed to acquire SightSpeed for roughly $30 million in cash. The purchase of SightSpeed, which has 25 employees, will provide Logitech a software and services development team that can focus on video calling initiatives that can enable cross-platform video communications.
"With this acquisition, we are significantly augmenting our current video R&D resources to help us move more quickly toward our goals for video services that complement the way people socialize, communicate and enjoy entertainment," said Junien Labrousse, executive vice president of Logitech's Products group.
So, in addition to visiting a friend's house to check out his (or her) a Logitech Wireless Guitar controller, gamers can also watch friends jam out via video.
"According to our research, there is a large untapped market of people who want to communicate with friends and family using video," Labrousse explained. "But they want it to be integrated into their family lifestyle, which means going beyond the PC. We believe with SightSpeed we can help create the next wave of video communications enthusiasts."
The impact of the acquisition on Logitech's current fiscal year results is not expected to be material. Nonetheless, the $249.99 price tag on the wireless guitar game controller should help boost revenue.
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