Logitech has announced its decision to retain its Harmony division of the company rather than spinning it out into its own company.
Logitech acquired Intrigue Technologies, maker of Harmony remote controls, in May 2004 for $29 million. Logitech has been taking full advantage of its Harmony division ever since, pushing out a myriad of products under the Harmony name. However, with slow growth, Logitech began considering releasing its Harmony division back into the market on its own.
Nevertheless, Logitech recently released a press release with the determination that retaining the division was in the best interest of its shareholders. The success of the Harmony Ultimate, which exceeded the company's expectations for consumer connections, may be the reason for the change in heart.
Harmony products have had to fight for their share of the market as smartphone makers have begun to include remote capabilities into their devices, but the success of the Harmony Ultimate bodes well for the division's future with Logitech.
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