Logitech Acquires TT Design Labs
Crowd-Funded, Smartphone Accessories Startup Delivers Product Portfolio and Design Know-How
NEWARK,Calif. — June 6, 2013— Today Logitech (SIX: LOGN) (NASDAQ: LOGI) announced the acquisition of TT Design Labs, a two-person startup in the smartphone accessories space, focused on human-centric product design.
As part of the agreement, Logitech gains ownership of the assets of TT Design Labs, which includes products designed to improve the smartphone experience for people everywhere. The company’s initial product, TidyTilt, was entirely crowd-funded and secured more than 2000% of their funding goal.
In addition, the company’s co-founders will join Logitech, with Derek Tarnow working full time for the company and Zahra Tashakorina on an ongoing consulting basis, both focusing on design for products that complement the smartphone.
“The big winners with today’s announcement are smartphone users,” said Derek Tarnow, co-founder of TT Design Labs. “In Logitech, we’ve found a true partner that shares our focus on creating great products designed to improve people’s experiences with the technology they love. We’re very excited to be working with Logitech.”
Logitech will work with Derek and Zahra to improve and evolve two of the acquired products, JustMount and TidyTilt+, and launch them to consumers under the Logitech brand. The Logitech JustMount and Logitech TidyTilt are available for pre-order today and will ship to consumers in the coming weeks.
“The growing popularity of crowd-sourced funding is bringing tremendous innovation in consumer electronics and TT Design Labs is a perfect example of the trend,” said Eric Kintz, senior vice president and general manager at Logitech. “We’re excited to tap into this pool of innovation and talent while working with Derek and Zahra to develop amazing experiences around the smartphone.”
The Logitech JustMount and Logitech TidyTilt (also in leather) are available for pre-order today and are expected to ship to consumers in the coming weeks. Please visit our website or blog to learn more.
Logitech is a world leader in products that connect people to the digital experiences they care about. Spanning multiple computing, communication and entertainment platforms, Logitech’s combined hardware and software enable or enhance digital navigation, music and video entertainment, gaming, social networking, audio and video communication over the Internet, video security and home-entertainment control. Founded in 1981, Logitech International is a Swiss public company listed on the SIX Swiss Exchange (LOGN) and on the Nasdaq Global Select Market (LOGI).
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