Moving into web video communication, Logitech buys SightSpeed for $30 million
Logitech International has acquired Internet video communication firm SightSpeed for $30 million.
Switzerland-based Logitech, which makes computer mice and other peripherals, will get access to SightSpeed’s video calling technology. SightSpeed makes it easy to conduct video conferences between multiple parties over the web. The deal is subject to closing conditions and is expected to finalize in early November.
Junien Labrousse, executive vice president of Logitech’s products group, said that the deal would significantly increase the company’s video R&D. It will focus on the large market of people who want to communicate easily with friends and family via video.
The company’s technology is based on SIP (Session Initiation Protocol), a standard that enables the services to be interoperable with other modes of Internet communication. This transaction marks the third company that Peter Csathy (chief executive of SightSpeed) has sold. Founded in 2001, it currently has 25 employees. He previously sold eNow to AOL and MusicMatch to Yahoo.
SightSpeed’s investors included the Roda Group and BR Ventures, the venture arm of Cornell University.
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About the Author, Dean Takahashi
Dean is lead writer for GamesBeat at VentureBeat. He covers video games, security, chips and a variety of other subjects. Dean previously worked at the San Jose Mercury News, the Wall Street Journal, the Red Herring, the Los Angeles Times, the Orange County Register and the Dallas Times Herald. He is the author of two books, Opening the Xbox and the Xbox 360 Uncloaked. Follow him on Twitter at @deantak, and follow VentureBeat on Twitter at @venturebeat.