Logitech Acquires Intrigue - ResidentialSystems.com

Logitech Acquires Intrigue

Logitech has purchase Intrigue Technologies, the maker of Harmony Remote advanced remote controls.
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Fremont, CA--Logitech International has purchased the maker of Harmony Remote advanced remote controls, privately held Intrigue Technologies of Canada. Intrigue will remain in Mississauga, Ontario.

Logitech purchased Intrigue for $29 million, plus a possible performance-based payment, contingent on reaching future remote control revenues. According to Logitech, its acquisition is part of a strategy to expand its presence in the digital living room. The company already offers controllers and audio products for console gaming, which have enjoyed robust sales growth during the last 12 months. Logitech plans to build on this momentum by combining its experience in control devices for the PC.

"This acquisition allows us to position Logitech at the convergence of consumer electronics and personal computing in the living room," said Logitech president and chief executive officer, Guerrino De Luca. "Logitech's personal interface products are the point of contact between people and the digital world, the 'last inch'--in homes, in offices and on the go. Logitech intends to be the defining and leading provider of the last inch in the living room and in the digital, connected home. The acquisition of Intrigue comes at the right time and provides the right assets to help us firmly establish our leadership."

"Intrigue was founded on the idea that there can be widespread market adoption of an activity-based advanced remote control that is affordable, easy to configure and easy to use," said Intrigue Technologies chief executive officer, Bryan McLeod. "Now, co-founders Glenn Harris and Justin Henry and I look forward to being part of Logitech and to accelerating delivery on this promise by leveraging the company's strong brand, global distribution, and expertise in engineering, manufacturing and supply chain management."

Logitech expects the acquisition of Intrigue Technologies to add $10 to $20 million in sales during the current fiscal year, with an immaterial effect on operating income. "Beyond FY 2005, we expect the category of advanced remote controls to deliver strong profitable growth," De Luca.

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