Lifesize separate from Logitech, $17 million 500 thousand financing

Lifesize is a video communication solution provider, in 2009 by Logitech (Logitech) announced $405 million acquisition, has split out from independent Logitech Inc, and has raised $17 million 500 thousand financing.

The

investment for the red dot ventures (Redpoint Ventures), Sutter Hill (Sutter Hill Ventures) and Venture Capital Partners roytek beauty (Meritch Capital Partners), Logitech still holds 37.5% of its shares as a shareholder.

The spin off of

Lifesize allows Logitech to accelerate the transition to a simpler, more flexible company, which allows it to focus on growing retail business. At the same time, can provide an opportunity for Lifesize to develop independently, in the growing demand for the SaaS market, have the opportunity to play the full potential to do video conferencing SaaS software. In addition, the new investors will also be given some resources in the field of Lifesize support.

Logitech will begin in the fourth quarter of fiscal year will be separated from the financial Lifesize, the company hopes to get about $15 million in the ~2000 quarter of this year, non cash gain.

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