Thursday, November 8, 2007
WiLife Acquired By Logitech
Computing peripherals and gaming devices manufacturer Logitech International announced Thursday that it has agreed to acquire WiLife Inc., a Utah-based producer of economical home-monitoring systems. The deal, Logitech said, is worth some $24 million and could also include performance-based payments if certain future revenue goals are met. Logitech said it expects the acquisition, which is subject to customary closing conditions and regulatory approval, to close later this month. A privately held company headquartered in Draper, Utah, WiLife offers PC-based video surveillance systems that are used to monitor homes and small businesses. The systems incorporate PC software, a plug-in receiver and up to six wireless video cameras. Captured footage can be stored on a local hard disk or via the Internet. WiLife is headed by Andrew Hartsfield, formerly the CFO of Omniture.