Logitech Acquires Intrigue Technologies
May 11, 2004 6:31 PM
Logitech International has purchased the maker of the Harmony Remote (www.harmonyremote.com) advanced remote controls, privately held Intrigue Technologies of Canada, for $29 million in cash, as well as a possible performance-based payment, tied to reaching certain future remote-control revenues. Intrigue, which will remain in Mississauga, Ontario, has pioneered an approach to solving a problem faced by many consumer households: too many complicated remote controls. Intrigue offers a line of advanced remote controls that are affordable, easy to set up, and simple to use.
The acquisition of Intrigue is part of Logitech’s strategy to expand its presence in the digital living room. The company is a provider of products for the living room, with its controllers and audio products for console gaming, which have enjoyed robust sales growth during the past 12 months. Logitech plans to combine its experience in control devices for the PC—most notably, the computer mouse—with Intrigue’s expertise and technology.
“This acquisition allows us to position Logitech at the convergence of consumer electronics and personal computing in the living room,” says Guerrino De Luca, Logitech president and chief executive officer. “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.”
With the Harmony Remote, people can customize the advanced remote for their own digital-entertainment setup using the Harmony Remote Web site. Once configured the Harmony remote organizes entertainment control into activity selections like Watch TV or Watch a DVD. Intrigue’s products are available through selected retailers and specialist channels in the United States and Canada.
“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,” says Bryan McLeod, chief executive officer of Intrigue Technologies. “Now cofounders 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.”
