Logitech has this week revealed that it will be acquired Jaybird for $50 million in cash and an additional earn out of up to $45 over the next two years.
In case you don’t know who Jaybird are, they make a number of headphones and activity trackers, mainly focusing on Bluetooth technology.
Logitech decided to acquire the company for these headphone’s, as Bracken Darrell, Logitech president and chief executive officer explained with the following:
“We’re impressed by the technology, products and marketing Jaybird has brought to this business. As one team, we can address the fast-growing wireless audio wearables market with all the advantages of Jaybird’s strong brand and sports expertise, and our combined audio engineering and design capabilities. With both the Ultimate Ears and Jaybird brands in our portfolio, we are expanding the long-term growth potential of our music business.”
Judd Armstrong, founder and chief executive officer of Jaybird, also said:
“It has been an incredible journey. We love what we do, and we’re stoked to continue to innovate and bring amazing new products to our fans. Jaybird will benefit from Logitech’s global distribution network and deep engineering prowess. We’ve watched as they’ve connected incredible products with passionate consumers under the UE brand, and we’re thrilled to be part of the team.”
You can find out more details about Logitech’s acquisition of Jaybird at the source link.