IT Company Logitech said it is buying privately held LifeSize Communications for $405 million, bolstering its position in the much-prized video communication market, which is seen as a key source of future growth.
LifeSize Communications has more than 9,000 video conferencing customers, IT Services Company Logitech—the world’s largest computer mouse maker—said late on Tuesday.
Analysts at Swiss bank Wegelin said the acquisition made sense, even though Logitech was paying a “considerable” price. “Logitech has long-since proved itself to be the one that stands out from the crowd,”.
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