Logitech has announced the acquisition of Jaybird, a company that makes wireless earbuds designed for athletes, runners, & fitness fanatics.
People love to listen to music everywhere and sometimes in places where listening out loud would just not work. Jaybird hit on a great idea of making products for people actively engaged in sports and who wanted music to power their passion for their sport. With the right product (and Jaybird makes them), you can now pursue your sport with your music. It’s a potent combination.
Logitech says the Jaybird team will have all the scope to innovate they had before. "They’ll continue to feed the Jaybird brand and design products like the latest X2 wireless buds." Additionally, Logitech says it will help Jaybird take everything further and faster than before.
“Logitech and Jaybird share a passion for products,” said Bracken Darrell, Logitech president and chief executive officer. “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.”
The acquisition amount is approximately $50 million in cash, with an additional earn-out of up to $45 million based on achievement of growth targets over the next two years.
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People love to listen to music everywhere and sometimes in places where listening out loud would just not work. Jaybird hit on a great idea of making products for people actively engaged in sports and who wanted music to power their passion for their sport. With the right product (and Jaybird makes them), you can now pursue your sport with your music. It’s a potent combination.
Logitech says the Jaybird team will have all the scope to innovate they had before. "They’ll continue to feed the Jaybird brand and design products like the latest X2 wireless buds." Additionally, Logitech says it will help Jaybird take everything further and faster than before.
“Logitech and Jaybird share a passion for products,” said Bracken Darrell, Logitech president and chief executive officer. “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.”
The acquisition amount is approximately $50 million in cash, with an additional earn-out of up to $45 million based on achievement of growth targets over the next two years.
Read More