Logitech tells us that Jaybird will remain a separate brand. The acquisition, as per Armstrong, will allow JayBird to “benefit from Logitech’s global distribution network and deep engineering progress”.
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In an announcement, Jaybird CEO Judd Armstrong said Jaybird arrangements to proceed to enhance and present new items, however will “profit by Logitech’s worldwide circulation system and profound designing advance”. “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”. Logitech will buy the company for $50 million in cash, as well as up to another possible $45 million depending on whether they hit some growth targets over the next couple of years. Jaybird joins Ultimate Ears as another wireless audio innovator brought under the Logitech product portfolio umbrella. Today Logitech adds yet another audio-focused company to its collection – Jaybird.
Jaybird’s line of products are centered around fitness, a hot market made up of wireless earbuds and fitness trackers.
Jaybird’s fitness oriented headphones, the BlueBuds X and more recently, the X2 have a very loyal group of followers, including AP’s owner and founder, Artem.
“The Jaybird team will have all the scope to innovate they had before”, Rory Dooly, senior vice president for music at the company, said in a statement.
Logitech’s deal with Jaybird is expected to be finalized in the coming weeks and will still be subject to certain conditions and approval.
According to a statement from Logitech, the acquisition is cantered largely around the growth of audio and music-listening products.
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Logitech on Tuesday announced it has agreed to acquire Salt Lake City-based Jaybird for approximately $50 million in cash. Jaybird will get exclusive financial advice from Stifel during the acquisition process.
