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Storm Technology Acquires Logitech's Scanner Business

In a bid to increase market share in the personal scanner market, Storm Technology (Mountain View, CA) has acquired the scanner business of Logitech (Fremont, CA). Through the purchase, valued between $15 million and $20 million, Storm is expected to control more than 40% of the sheetfed scanner market in addition to its 70% market share in the photo scanning segment. The deal will be accomplished through an initial compensation of stock and cash, and an earnout option of stock and cash. Logitech will own 10% of Storm Technology. "This partnership is exciting," said Logitech CEO Daniel Borel, in that "both companies will be able to create and deliver better, more affordable products."

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