There is also another option that I have used in the Past, seeing that the logo is all white with black and red graphics, you could use paint.net.
open the png file of the image in Paint.net and use the magic lasso tool to select and copy or cut black then red parts in to a new layer.
Or try having your friend export the .ai version from PS and see if the helps, I have been able to open .ai files with Xara.
Dre
Iggy Logo
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