Logitech Inc. is getting a $30.4 billion deal from Lenovo Inc., making it the world’s biggest camera maker, a top executive said on Monday.
The deal, which is expected to close in the first half of 2019, includes the acquisition of camera company Logitech, which was valued at $3.3 billion in 2014.
The company is a leading maker of digital cameras, including those used in smartphones and tablets.
The combined company will include a global headquarters and a global product range.
Logitech was founded in 1869.
The acquisition will be Logitech Corp. of America Inc., which is led by Chairman and CEO Andy Roth.
Mr. Roth said the deal includes $1 billion of cash and will be completed by the end of the second quarter.
The investment comes as Lenovo is working to build a stronger foothold in the emerging market of smartphones and other mobile devices that have become increasingly popular with consumers, including Chinese brands Xiaomi and Huawei.
In February, Lenovo launched its first tablet, the Lenovo Y250.
Lenovo also is seeking to build its own digital camera business, which it hopes will help it gain a larger presence in the growing category.
In addition to its smartphone business, Logitech is also focused on providing digital cameras for use in consumer electronics, and is developing digital cameras to power digital signage.
The $30-billion deal will help Logitech expand its digital camera portfolio to include digital cameras in cameras that are already sold in other products, Mr. Mayer said.
“Logitech has a lot of expertise in digital cameras and a great team,” he said.
Mr., Mayer also said that the combined company would include an executive and senior management team.
The Logitech acquisition comes as the U.S. and China are battling over how to restrict North Korea’s missile launch capabilities.
The U.N. Security Council has passed a resolution calling for tougher measures against North Korea, but China has said that any action against North Korean missiles must be accompanied by a credible threat from the North.
Logs, which produces cameras for companies including Apple Inc., Amazon.com Inc., GoPro Inc. and other brands, is also a major player in the burgeoning category of home security systems, which include cameras that can be used to control the lights in homes.
The Chinese-owned company has a market share of roughly 15% of the U,S.
home security market, according to research firm Kantar Worldpanel ComTech.
Mr, Mayer said Logitech would be “a global leader” in the field.
He also said the combination of the two companies would help Logiis “bring the best of both worlds.”