LifeSize Acquired by Logitech

Austin-based LifeSize, a provider of video-conferencing equipment, has made a very impressive exit this week. Logitech International agreed to purchase the company for $405 million in cash.

The acquisition marks Logitech’s entry into a very competitive videoconferencing market, which is outside of their traditional focus on the consumer market. Other major vendors in the space include Cisco, HP, Microsoft and Polycom. Lifesize built a reputation for top-notch HD-quality video at prices that some of the other players struggled to match. While this is a noteworthy move for Logitech, it’s also one of the most impressive exits of an Austin-based startup in recent memory.

In a letter to customers and partners, LifeSize founder and CEO, Craig Malloy said, “With Logitech’s backing, LifeSize will be able to scale more effectively to deliver technology solutions to more customers and partners around the world. And by closely collaborating on innovation, we believe that we can accelerate the realization of our vision.”

In an FAQ document about the acquisition, the company said that it would become a division of Logitech and continue to operate as they have since their inception, only now with the support and resources of Logitech.

The news has been well-recieved by the Austin technology community. LifeSize’s exit is a success both for the company and investors, but also lends further credibility to the quality and strength of Austin’s startups.

LifeSize Acquired by Logitech

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