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This news this morning makes me really happy. Peter Csathy’s SightSpeed, a high quality video call/conferencing service, is going to be acquired by a very big name in the computer market, Logitech, very popular, among the other things, for their high quality webcams.
I blogged so many times about SightSpeed and I really love that service, reason why I’m very happy for Peter and his team in San Diego. This is a great deal for both, since Logitech can now provide an effective way to give more value to their webcams, for both the consumer and business market. And it seems that SightSpeed is the 3rd company Peter succesfully sold.
Moreover, I really would like to congratulate Andy “everything I touch becomes gold” Abramson, since SightSpeed is the Nth company he’s involved with in terms of PR or in terms of board of directors which has been sold recently. Wow.
Details of the deals are summarized below.
Logitech International (SIX: LOGN) (Nasdaq: LOGI) today announced that the company has agreed to acquire privately held SightSpeed Inc. of Berkeley, Calif. for approximately $30 million in cash. SightSpeed is an award-winning provider of high-quality Internet video communications services. The acquisition is subject to customary closing conditions and is expected to close in early November.
The acquisition of SightSpeed will provide Logitech with video calling technology and a software and services development team that can be focused on future video calling initiatives that can enable cross-platform video communications with an intuitive, lifelike experience, for people sitting in front of a personal computer or with their family in a living room.
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