Jigar Mehta’s WebBlog

October 19, 2006

Logitech acquires Slim Devices for $20 million

Filed under: Uncategorized — jigarme @ 7:54 pm

Logitech said Thursday that it had acquired Slim Devices, a company that produces music devices that integrate into a home network, for $20 million in cash plus possible performance-based payments tied to future revenue targets. Slim Devices makes the popular Squeezebox, a device that streams Internet radio to a stereo, and the Transporter, which streams a user’s digital music collection.

“Slim Devices will benefit from Logitech’s brand, their retail channel, their expertise in developing quality hardware, and their existing portfolio of complementary products such as speakers and remotes,” Slim Devices CEO Sean Adams said in a post on the company site announcing the transaction. “Logitech believes this will be a fast growing segment of their business, and we are looking forward to making that happen.”

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