Logitech is seeking to gain a stronger foothold in the wireless audio wearables market with the acquisition of Salt Lake City, Utah-based Jaybird LLC.
Under the $50 million all-cash deal (with an additional earn-out of up to $45 million based on achievement growth targets), the combined company will be able to take advantage of the growing sports and active lifestyles audio wearables market and improve upon the Jaybird brand using combined audio engineering and design capabilities.
The Jaybird brand of audio wearables will be integrated into Logitech’s portfolio in order to expand its sports and active lifestyles product. Source: Logitech Logitech says the Ultimate Ears brand under Logitech and the Jaybird brands under one portfolio will allow for an expansion of the long-term potential growth of Logitech’s music business. Logitech says the BlueBuds X and X2 wireless buds enjoy a strong following among the active crowd where consumers use the wireless audio wearables on the slopes, on the court, in the gym, on the dirt, or on the pavement.
The acquisition is not expected to materially impact Logitech’s fiscal year 2017 guidance, and the deal is subject to customary closing conditions with the close likely to happen in the coming weeks.
To contact the author of this article, email engineering360editors@ihs.com.
