Logitech To Incur Up To $123 Mln Non-cash Charge In Q4 On Lifesize Deal

(RTTNews) - Logitech International (LOGI) announced that it will take a non-cash, non-tax-deductible goodwill impairment charge related to the acquisition of Lifesize. As communicated in April 2015, Logitech has been evaluating the goodwill associated with Lifesize. This charge is expected to be between $100 million and $123 million in the fourth quarter of Fiscal Year 2015.

As announced last month, Logitech reorganized its Lifesize business to sharpen its focus on Lifesize's new cloud-based offering which is gaining significant market traction. Logitech is implementing these actions, and considering others, to optimize the value of its video conferencing reporting unit.