Logitech

Logitech International S.A.
Société Anonyme
Traded as SIX: LOGN
NASDAQ: LOGI
Industry
Founded 2 October 1981 (1981-10-02)
Apples, Switzerland
Founders Daniel Borel
Pierluigi Zappacosta
Giacomo Marini
Headquarters Lausanne, Switzerland (corporate headquarters)
Newark, California, U.S. (administrative headquarters)
Area served
 Worldwide
Key people
 Guerrino De Luca (Chairman)
Bracken Darrell (CEO)
Products Peripherals
Revenue Increase US$2.57 billion (2018)
Increase US$74 million (2014)[1][2]
Total assets Increase US$1.5 billion (2013)[1]
Total equity Increase US$0.7 billion (2013)[1]
Number of employees
 ~7000 (2018)[2]
Subsidiaries
Website www.logitech.com

Logitech International S.A. (/ˈlɒdʒɪtɛk/ LOJ-ih-tek; commonly referred to as Logitech or Logi; stylized as logitech, previously LOGITECH) is a Swiss provider of personal computer and mobile peripherals, with its headquarters in Lausanne, Switzerland and administrative headquarters in Newark, California. In addition to its Swiss and American facilities, the company has offices throughout Europe, Asia and the rest of the Americas. Logitech's sales and marketing activities are organized into three geographic regions: Americas, Europe, Middle East and Africa, and Asia Pacific.

The company develops and markets personal peripherals for PC navigation, video communication and collaboration, music and smart homes. This includes products like keyboards, mice, tablet accessories, webcams, Bluetooth speakers, universal remotes and more.

The name Logitech is derived from the French word for software, "logiciel".[3] In Japan, Logitech was established as Logicool to avoid conflict with the Logitec brand.

History

First Logitech logo, used from 1981 to 1985.
First Logitech logo, used from 1981 to 1985.
Second Logitech logo, used from 1985 to 1988.
Second Logitech logo, used from 1985 to 1988.
Third Logitech logo, used from 1988 to 1996.
Third Logitech logo, used from 1988 to 1996.
Fourth Logitech logo, used from 1996 to 2015.
Fourth Logitech logo, used from 1996 to 2015.
Fifth Logitech logo, used from 2012 to 2015.
Fifth Logitech logo, used from 2012 to 2015.

Logitech was co-founded in Apples, Vaud, Switzerland, in 1981 by two Stanford alumni, Daniel Borel and Pierluigi Zappacosta, and a former Olivetti engineer, Giacomo Marini.[4]

For a time during its formative years, Logitech's Silicon Valley offices occupied space at 165 University Avenue, Palo Alto, California, home to a number of noted technology startups.[5]

In 2007, Logitech licensed Hillcrest Labs' Freespace motion control technology to produce the MX Air Mouse, which allows a user to use natural gestures to control a PC.[6][7]

In August 2008, Logitech acquired Ultimate Ears, supplier of custom in-ear monitors for professional musicians and Bluetooth speakers for the consumer market.[8]

In December 2008, Logitech announced that it had manufactured one billion mice since 1985.[9]

In July 2011, Logitech acquired the mobile visual communications provider, Mirial.[10]

In January 2013, Bracken Darrell became Logitech’s chief executive officer and then CEO Guerrino De Luca continued as Logitech’s chairman of the board.[11]

In April 2016, Logitech agreed to pay US$7.5 million penalty related to accusations that it and some former executives improperly inflated the company's results for its 2011 fiscal year to meet guidance and other accounting violations. The U.S. Securities and Exchange Commission said the alleged accounting issues left investors without an accurate view of the Swiss-U.S. company's finances.[12]

On September 15, 2016, Logitech announced that they had purchased the Saitek brand and assets from Mad Catz for US$13 million in cash.[13]

On August 11, 2017, Logitech acquired Astro Gaming, makers of professional gaming equipment (mainly headset solutions), for US$85 million in cash.[14]

In July 2018, Logitech announced plans to acquire Blue Microphones for US$117 million.[15]

On August 19, 2018, Logitech announced the launch of their most advanced Ergonomic Mouse called "MX Vertical".[16] It features a vertical angel of 57 degrees, It also comes with a USB-C charging port.[17] The product is set to be shipped for sales in September 2018.[18]

Production

The first Logitech mice were made in Le Lieu, in the Swiss Canton of Vaud by Dubois Depraz SA.

Production facilities were then established in the US, Taiwan, Hungary and Ireland before being moved to Suzhou, China. As of 2005, the manufacturing operations in China produce approximately half of Logitech's products. The remaining production is outsourced to contract manufacturers and original design manufacturers in Asia.[19]

Logitech product lines

References

  1. 1 2 3 "Logitech – Logitech Announces 2nd Quarter and Full-Year Financial Results for FY 2013". marketwatch.com.
  2. 1 2 "Logitech investors FAQ". logitech.com. Archived from the original on 9 July 2015.
  3. ↑ "Full Form of Logitech (Name Origin) ? - FullForms". fullforms.com.
  4. ↑ "Logitech History" (PDF). logitech.com.
  5. ↑ Peter Day, BBC . "165 University Ave: Silicon Valley's 'lucky building'." Aug 27, 2010. Retrieved Dec 8, 2016.
  6. ↑ Techspot 13 July 2007. Logitech's MX Air Mouse with freespace motion control
  7. ↑ Frucci, Adam. "Logitech Buys Ultimate Ears for $34 Million". Gizmodo. Retrieved 2016-12-12.
  8. ↑ By Michael Brown, Tom's Hardware. "Logitech Ships its One Billionth Mouse." 5 December 2008. Retrieved 16 May 2014.
  9. ↑ "Logitech Acquires Mirial – MarketWatch". marketwatch.com. 2011. Retrieved 2 August 2011.
  10. ↑ "Logitech selects Bracken Darrell as president right now, next CEO in 2013". Engadget. Retrieved 2016-12-12.
  11. ↑ Tess Stynes, The Wall Street Journal. “Logitech Agrees to Pay $7.5 Million Penalty Tied to Accounting Issues.” April 19, 2016. April 22, 2016.
  12. ↑ "Logitech acquires Saitek Simulation product line from Mad Catz". Logitech. Retrieved 2016-09-16.
  13. ↑ Chen, Sam. "Logitech Acquires Astro Gaming for $85 Million Establishing Itself in the Console Gaming Space". Custom PC Review. Retrieved 2017-07-11.
  14. ↑ Lawler, Richard (2018-07-30). "Blue Microphones sells to Logitech for $117 million". Engadget. Oath Inc. Retrieved 2018-07-30.
  15. ↑ "Introducing Logitech's Most Advanced Ergonomic Mouse – MX VERTICAL | logi BLOG". blog.logitech.com. Retrieved 2018-08-20.
  16. ↑ "Logitech Debuts New MX Vertical Ergonomic Mouse". Retrieved 2018-08-20.
  17. ↑ "Logitech's MX Vertical turns the company's best mouse on its head". The Verge. Retrieved 2018-08-20.
  18. ↑ "How Logitech Protects Its Manufacturing Secrets in China". Bloomberg News. 2013-10-02. Retrieved 2018-04-28.
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