Leading Provider of Internet Video Communications Services Joins Global Leader in Personal Peripherals
BERKELEY, Calif. (Nov. 3, 2008)—The Roda Group, the principal venture capital backer and majority shareholder of privately held SightSpeed Inc., announced today that it was pleased to see the award-winning provider of high-quality Internet video communications services acquired by Logitech International for approximately $30 million in cash.
Eric Tveter, Chairman of SightSpeed and senior advisor to The Roda Group commented: “When you nurture a startup, as we have done with SightSpeed since 2003, it’s always extremely satisfying to see a respected global leader like Logitech take your ‘baby’ under its wing. We are passionate believers in the overall market opportunity, and we couldn’t be more pleased to see SightSpeed become part of Logitech going forward. This deal is an extremely positive event for SightSpeed’s customers, shareholders and employees.”
The Roda Group provides entrepreneurs with the environment, resources and guidance to launch and grow their innovative technology businesses. The firm’s other major successes include Ask Jeeves and PolyServe, early stage companies that were previously acquired by IAC and HP respectively. For more, see http://www.rodagroup.com/
SightSpeed was co-founded by Aron Rosenberg (SightSpeed CTO), Dr. Toby Berger (Emeritus Professor of Engineering at Cornell University and now Professor of Engineering at the University of Virginia), and Brad Treat (entrepreneur).
About SightSpeed, Inc.
SightSpeed Inc. is the award-winning provider of Internet video communications for both the consumer and business user, offering the broadest portfolio of industry-leading Internet video communications services. These include, SightSpeed Free, SightSpeed PLUS and SightSpeed Light (for social networks), the most widely praised consumer-focused video chat services, which turn a PC or Mac into an easy-to-use video phone to communicate with friends and family around the world. In addition, SightSpeed Business is the world’s first high-quality, cost-effective and hardware-free videoconferencing service for all businesses, including SMBs.
SightSpeed's services are SIP-based and standards-compliant. The company’s revolutionary human perception-based technology is patented and based on more than ten years of R&D originating at Cornell University. Among the many awards SightSpeed has received are Frost & Sullivan's “Company of the Year” award, PC Magazine's “Editors' Choice,” PC World's “100 Best Products,” and a 2008 “Codie” from the Software & Information Industry Association.
Founded in 2001 and based in Berkeley, Calif., SightSpeed is a privately held company funded by The Roda Group, best known for launching Ask Jeeves and PolyServe. For more information visit SightSpeed online.