Logitech International (NASDAQ:LOGI) announced Wednesday that it acquired Italian company, Mirial to offer personal and mobile video conferencing software for tablets and smartphones.
Gerald P. Quindlen, Logitech president and chief executive officer said, "The advent of mobile devices has created a new anytime, anywhere office environment - burdening businesses with a fresh set of communications needs and challenges. Acquiring Mirial makes Logitech uniquely positioned to address these needs by equipping businesses with a complete HD video conferencing solution spanning the mobile device to the desktop to the conference room. This acquisition is a significant step forward in our ongoing efforts to make video communication as ubiquitous as voice-only calls are today."
Logitech International has a potential upside of 39.3% based on a current price of $10.45 and an average consensus analyst price target of $14.56.