Accessories firm Logitech this week announced an agreement to acquire Utah-based earbud maker Jaybird, which is known for active style wireless headphone designs, in a deal reportedly worth around $50 million in cash.
The news was announced on Logitech’s website, and said Jaybirds will help the firm build out its product lineup to cater to customers who prefer headphones over speakers.
As well as its branded products, Logitech also markets premium speakers via subsidiary Ultimate Ears which it purchased back in 2008.
“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”, said Logitech CEO Bracken Darrell.
In addition to the $50 million in cash, Jaybird could earn $45 million if it hits growth targets over the next two years. The deal’s financial terms were disclosed in a separate press release.
Jaybird is currently a leader in Bluetooth-based earbuds, with its most recent product being the X2 wireless device for more active users. The firm also sells a wearable fitness devices, or “advanced active recovery band” which it calls Reign.
Apple is said to be launching its own set of Bluetooth headphones this year, apparently aiming to remove the 3.5 mm headphone jack on the iPhone 7 which would require Lightning port EarPods or similar.
Larry Banks is a keen follower of technology and finance. He has worked for a variety of online publications, writing about a diverse range of topics including mobile networks, patents, and Internet video delivery technologies.