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Posted October 04, 2018 08:23:59The makers of Logitech’s gaming and multimedia products announced on Wednesday that it has agreed to pay $8 million to a Chinese online marketplace for a series of software licenses, including gaming software and a webcam software.
Logitech is one of several Chinese companies that have been buying up U.S. software licenses to license in recent years, in a bid to boost their global presence.
The agreement to buy licenses from the Alibaba marketplace follows a similar agreement last year between Logitech and Chinese internet portal QQ, which bought rights to software for the gaming headsets from Logitech.
Alibaba later made a similar deal with the Chinese gaming platform GIGABYTE.
LogiLogitech said in a statement that it had already acquired licenses from two gaming platforms that were previously owned by the Logitech Group and had been under development for some time.
Logitech said it expects to license additional gaming software in the coming months, as well as other products, including virtual reality headsets, the company said.
The acquisition brings Logitech a total of 14 million gaming licenses for a total value of $2.8 billion.
The deal comes just as Microsoft is under pressure from regulators in the U.K. and China over its business practices, with the U-K.
government accusing the company of artificially inflating the value of its shares.
In June, Microsoft agreed to give up $US50 million in cash and stock and take an unspecified number of restricted shares from the Chinese company that owns a majority stake in its Windows platform.