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Logitech sells off Lifesize division

2015-12-30 09:49:00| Telecompaper Headlines

(Telecompaper) Logitech International announced that its Lifesize videoconferencing division separated from the company to become Lifesize, a private entity. Three venture capital firms, namely Redpoint Ventures, Sutter Hill Ventures and Meritech Capital Partners, invested USD 17.5 million into Lifesize and join Logitech as shareholders. Logitech will hold a 37.5 percent share in the company, based on shares outstanding immediately following the investment. The separation of Lifesize is another step in Logitech's transformation toward a simpler, faster company, Logitech said. It allows Logitech to focus on its growing retail business.

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Category:Telecommunications

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