Venture capital firms have agreed to sell LifeSize Communications, a US-based provider of high definition video communications products, to Logitech International, a Switzerland-based manufacturer of computer peripherals.
Venture capital firms include Tenaya Capital, Austin Ventures, Norwest Venture Partners, Redpoint Ventures, Sutter Hill Ventures and Pinnacle Ventures.
Logitech will acquire LifeSize for a cash consideration of USD405m. Following the transaction, LifeSize will operate as a separate division of Logitech in Austin, US.
Morgan Stanley is acting as financial adviser to Logitech on the transaction.
The acquisition will enable Logitech to extend its leadership position in video communication beyond the desktop.
