Goldsmith Agio Helms Announces Logitech International Acquires Labtec Inc

Business Wire, March 29, 2001

Business Editors & Technology Writers

MINNEAPOLIS--(BUSINESS WIRE)--March 29, 2001

The investment banking firm of Goldsmith Agio Helms announced today the successful closing of the tender offer by Logitech International SA (Switzerland:LOGN, LOGZ), (NASDAQ:LOGIY) to acquire Labtec Inc. (OTCBB:LABT.OB), a Vancouver, Washington-based provider of audio and multimedia peripherals and accessories for computing, communications, and entertainment. Labtec retained Goldsmith Agio Helms to lead the transaction, and selected the law firm of Jenkens & Gilchrist Parker Chapin to represent Labtec as legal counsel.

Labtec brings to Logitech a comprehensive range of products and a significant market presence, particularly in the audio interface sector. Labtec holds the number one retail market share in its two largest product segments: PC voice access (headsets and microphones) and PC speakers. It holds a leading position in headphones for MP3 and portable CD players. Labtec excels at product innovation targeted at the consumer and small office market, primarily sold through major mass merchant retailers, as well as OEM and master distributors. Labtec was founded in 1981, and was a leveraged buyout of Sun Capital Partners of Boca Raton, Florida in 1997. Marc Leder of Sun Capital expressed his appreciation of the Company's management. "Bob Wick, Labtec's President, and the Company's marketing, engineering and logistics teams have been responsible for the Company's impressive growth and financial performance. We are pleased that Labtec will become a part of such a high quality company such as Logitech."

Logitech designs, manufactures and markets human interface devices and supporting software that establish interactive connectivity to digital media, including personal computing, gaming, and the Internet. Logitech's strategy is to enable people to work, play, learn and communicate more effectively in the digital world. Logitech's interface products include Internet video cameras; input and pointing devices such as corded and cordless mice, optical trackballs and keyboards; multimedia speakers; and interactive gaming products such as joysticks, gamepads and racing systems. Logitech has operational headquarters through its U.S. subsidiary in Fremont, California, and local offices in Romanel, Switzerland and Hsinchu, Taiwan.

David J. Solomon, managing director and partner of Goldsmith Agio Helms commented on the strategic logic of the transaction: "The combination of Labtec's and Logitech's product lines brings together highly complementary digital multimedia peripherals, with core segments including voice access headsets, video, and cordless products that are experiencing explosive growth. From a marketing perspective the companies are both similarly positioned, targeting consumers at affordable price points primarily through mass merchant electronics retailers."

Goldsmith Agio Helms is the nation's leading independent investment banking firm providing M&A advisory services to sellers of middle market businesses. The firm represents public and private companies, with values in the $25 million to $500 million range, in complex mergers, sales, joint ventures, divestitures, recapitalizations and restructurings. In 1999 and 2000, the firm completed 76 transactions, at purchase price multiples well in excess of industry norms. Goldsmith Agio Helms is an 85-person firm with 55 professionals, with offices in Minneapolis, New York, Chicago, Los Angeles, and Naples, Florida.