Swiss computer peripheral maker Logitech International SA [
LOGI] late Tuesday
said it would buy SightSpeed Inc., a maker of desktop video conferencing technology, for $30 million.
From what we could gather, SightSpeed took only one small around of financing, a $1 million investment in 2003 from the Roda Group and BR Ventures. The company was founded as QVIX Technologies Inc. in 2001 by Cornell University professor Toby Berger, but
changed names to SightSpeed in January 2003.
SightSpeed's software
compresses and transmits only the visual information the human eye
requires, significantly reducing the data transmitted and communication
delay. Two fundamental patents have been secured by Cornell University
and are exclusively licensed to SightSpeed. The Berkeley, Calif.-based company employs 25 people.
Logitech said the acquisition would boost its video R&D resources in an effort to build video communication services and products.
The company in August said it would
buy Ultimate Ears, the
maker of those little earphone monitors musicians wear on stage, for
$34 million in cash. - Olaf de Senerpont DomisSee Oct. 28 press release on SightSpeed acquisition from LogitechSee Aug. 14 post on Ultimate Ears deal from Tech Confidential
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