Logitech, a consumer product manufacturer, announced today the acquisition of JayBird, a Salt Lake City-based wireless headphone maker, for approximately $50 million in cash. The deal also offers an additional earning of up to $45 million over the next two years if growth goals are met.
“It has been an incredible journey,” said Judd Armstrong, founder and CEO of Jaybird. “We love what we do, and we’re stoked to continue to innovate and bring amazing new products to our fans. Jaybird will benefit from Logitech’s global distribution network and deep engineering prowess.”
JayBird is a leader in wireless earbuds for consumers who plays sports or have active lifestyles. Logitech has provided its consumers with computer or tablets for over 30 years but has just started to design products around other verticals, the company said in a statement. The acquisition is expected to close in the coming weeks.
“Logitech and Jaybird share a passion for products,” said Bracken Darrell, Logitech president and CEO. “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.
By Jordan Phelps