Logitech Buys Wireless Audio Wearables Maker Jaybird for $50 Million.....

Logitech on Tuesday introduced it has agreed to collect Salt Lake city-based Jaybird for about $50 million in cash. The employer in a press assertion introduced that a further earn-out of up to $forty five million is planned "based totally on achievement of growth goals over the following  years."

Jaybird is exceptional known for its wireless audio wearables, centered on athletes and other active users. the acquisition will help Logitech cater to the wi-fi audio wearables market, in place of broaden such merchandise from scratch. The circulate is also being purported to help the agency be a leader inside the race for wi-fi and USB powered audio merchandise, what with rumours of Apple removing the 3.5mm jack on its subsequent iPhone, and several Android manufacturers adopting the USB kind-C specification. Logitech stated it'll now not section out the Jaybird logo.

"Logitech and Jaybird share a ardour for products," said Bracken Darrell, Logitech President and CEO. "we are impressed via the generation, merchandise and advertising and marketing Jaybird has delivered to this commercial enterprise. As one crew, we are able to address the fast-growing wi-fi audio wearables marketplace with all of the benefits of Jaybird's sturdy logo and sports understanding, and our blended audio engineering and layout capabilities. With each the remaining Ears and Jaybird brands in our portfolio, we're expanding the long-term increase potential of our music commercial enterprise," he introduced.

Judd Armstrong, Founder and CEO of Jaybird, said of the acquisition, "it's been an excellent journey. we adore what we do, and we're stoked to preserve to innovate and produce excellent new merchandise to our fanatics. Jaybird will gain from Logitech's global distribution network and deep engineering prowess. we've got watched as they've connected top notch merchandise with passionate consumers below the UE emblem, and we are pleased to be part of the group."

In its press statement, Logitech brought that it does not assume the purchase to materially effect its FY2017 guidance, and introduced that the buyout is issue to standard closing conditions however is predicted to shut within the "coming weeks.