Logitech All Set to Create Ripples in Wireless Audio Wearable Market with Jaybird Acquisition
NEWARK, CA: Consumer electronics firm, Logitech recently revealed that it is going to acquire Jaybird for approximately 50 million dollar, with an additional earn-out of up to $45 million based on achievement of growth targets over the next two years. Jaybird is a wireless buds manufacturer based in Salt Lake City, Utah. The acquisition is largely focuses on the development of audio and music-listening products.
Since Jaybird's initial launch in 2006, the company has released several pairs of headphones, starting from average pair of wireless headphones, to slightly cringe-worthy "sportsband" Bluetooth headphones and BlueBuds X headphones. The company in particular specializes in sports wireless headphones and wearables.
“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,” says Bracken Darrell, President and CEO, Logitech.
Widely known for its legacy products like computer mouse and keyboard, Logitech’s first major acquisition came to fruition with headphone manufacturer Ultimate Ears in 2008. Since then it has released variety of headphones and portable speakers under the name, UE. In recent years, it has come under the notice that the company has shifted its focus more towards audio gear. Logitech sells its computer accessories in more than 100 countries through retail channels or via strategic partnerships with computer manufacturers. The Company has sales offices spreading across major cities like North America, Europe, and Asia Pacific. “Logitech and Jaybird share a passion for products. With both the Ultimate Ears and Jaybird brands in our portfolio, we are expanding the long-term growth potential of our music business,” adds Darrell.