Logitech Decides To Retain Its Harmony Remote Division
Logitech took to the wires today to announce the Harmony Ultimate Hub, a device that turns an iPhone or Android device into a universal remote, is available for purchase. It’s $100.
But more importantly, Logitech also announced that it decided to keep the Harmony division within the company rather than spinning it out into its own company, turning the division, once again, into a startup fighting for attention in the wild electronic forest.
Once upon a time, May 5, 2004 to be exact, Logitech acquired the privately held Intrigue Technologies of Canada, maker of the famed Harmony remote controls, for $29 million in cash. Fast forward nine years. Logitech did the company right, pushing out countless quality products under the Harmony name, cementing it as a leader in the market. However, with growth slowing, Logitech was pondering spinning the division back out into the wild.
As today’s press release states, the company has determined that retaining ownership is in the best interest of its shareholders. Apparently the success of the Harmony Ultimate, a universal remote that merges the touch capability found in a smartphone with the traditional remote controls, changed Logitech’s mind. The new remote “exceeded the company’s expectations for customer connections.”
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