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LifeSize Acquired For $405M By Logitech

Austin-based LifeSize, a maker of high definition, video conferencing systems, has been acquired by Logitech, the firm said Tuesday. According to Logitech, it will pay $405M in cash for LifeSize. Logitech said it plans to operate LifeSize as a separate division in Austin, headed by existing CEO and founder Craig Malloy. Logitech said LifeSize expects approximately $90M in CY 2009. LifeSize had raised around $80.5M in venture capital from firms such as Austin Ventures, Lehman Brothers Venture Partners, Norwest Venture Partners, Pinnacle Ventures, Redpoint Ventures, and Sutter Hill ventures.