Fremont, CA–Logitech International has acquired Slim Devices Inc., creator of digital music home networks such Squeezebox and Transporter. Logitech purchased the privately held Slim Devices, based in Mountain View, California, for $20 million in cash plus a possible performance-based payment, tied to reaching certain future revenue targets.
“With the acquisition of Slim Devices, Logitech is building on our foundation of innovation in digital music and home-entertainment control to address an emerging market,” said Guerrino De Luca, Logitech president and chief executive officer. “Our focus is on people who want to listen to and control their digital music, anywhere in the home. Slim Devices brings expertise in both network-based music delivery and high-quality audio, and a committed community of developers. Slim Devices complements Logitech’s existing technology and human-interface strengths, helping to ensure that we can deliver to music lovers the promise of the digital home.”
“With digital music, the convergence between PC technology and home entertainment is particularly evident,” said Junien Labrousse, senior vice president of Logitech’s Entertainment and Communications business unit. “Millions of people around the world, in all walks of life, are using their PC or Mac to store their music collection–and those with broadband Internet connections are enjoying the wealth of Internet-radio content and other services. At the same time, increasing numbers of these music enthusiasts have wireless home networks that can be used to distribute the music throughout the home. Logitech sees significant potential for network-based digital music systems that can enhance the listening experience with high-quality audio, flexibility, choice and control.”
Led by founder Sean Adams, the Slim Devices team will become a distinct group within Logitech’s Entertainment and Communications business unit. “Slim Devices has been very successful in developing and enhancing network-based solutions for delivering premium-quality digital music and Internet radio to music lovers, thanks to our effective collaboration with our open-source community,” Adams said. “Now we have the opportunity to leverage the marketing, sales, distribution, supply chain, manufacturing and engineering resources of a company that shares our passion for innovation in digital music and that can help us reach a wide range of mainstream customers. We’re very excited about joining the Logitech team to continue to shape the future of digital music in the home.”
For more, visit www.logitech.com.