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Logitech acquires Slim Devices for $20M

Posted: 25 Oct 2006 ?? ?Print Version ?Bookmark and Share

Keywords:Logitech? Slim Devices Inc.? digital music? digital home?

Logitech International has acquired music systems developer Slim Devices Inc. The transaction cost is $20 million 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, president and CEO of Logitech. "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."

"Logitech sees significant potential for network-based digital music systems that can enhance the listening experience with high-quality audio, flexibility, choice and control," said Junien Labrousse, senior VP of Logitech's entertainment and communications business unit.

In a recent survey of online households in the United States, conducted by research firm Parks Associates, nearly half of the respondents characterized as music aficionados indicated very high interest in listening to any song, whenever they want, wherever they are. One-third of these respondents were very interested in listening to Internet or computer-based music/audio on their stereo.

Led by 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," said Sean Adams. "We're very excited about joining the Logitech team to continue to shape the future of digital music in the home."

Both Adams and Labrousse said that they are excited about their partnership with opportunities to continue shaping the "future of digital music in the home."

Slim Devices was established in 2001 by Adams, serving as CEO, who was joined by Dean Blackketter as CTO. The company has worked with the contribution of a worldwide open source community to develop the SlimServer software, which powers the Squeezebox and Transporter, as well as the SqueezeNetwork, which delivers content to the devices from the Internet without requiring a PC.




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