Logitech Announces Acquisition of Jaybird
Posted on April 18, 2016
Logitech announced that it has acquired Jaybird, a manufacturer of headphones and wearables for sports and active lifestyles. The deal was closed for about $50 million in cash and an additional earn-out of up to $45 million based on hitting certain growth targets.
Jaybird's products include the wireless X2 headphones (seen below) which are targeted at sports enthusiasts. Olympic Gold medalist Kerri Walsh Jennings is featured wearing the earbuds on the Jybird site. Jaybird also makes the Reign wearable active band.
Logitech president and CEO Bracken Darrell says in the announcement, "Logitech and Jaybird share a passion for products. 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."
Jaybird founder and CEO Judd Armstrong says, "It has been an incredible journey. 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. We've watched as they've connected incredible products with passionate consumers under the UE brand, and we're thrilled to be part of the team."