Logitech, maker of popular computer accessories and Bluetooth speakers, has acquired Salt Lake City-based Jaybird for $50 million in cash, with a potential earn-out of an additional $45 million if growth targets are met. The two companies announced the acquisition earlier today.
According to a statement from Logitech, the acquisition is centered largely around the growth of audio and music-listening products. Since Jaybird's initial launch 10 years ago, the company has released several pairs of headphones, from your average pair of wireless headphones, to these slightly cringe-worthy "sportsband" Bluetooth headphones, to the fan-favorite Jaybird BlueBuds X headphones. Jaybird also makes an activity-tracking wristband called the Reign. The company's founder and CEO, Judd Armstrong, said in a prepared statement that Jaybird will "benefit from Logitech's global distribution network and deep engineering prowess."
Logitech, on the other hand, is probably still best known for legacy products like the computer mouse and accessories like keyboards, but in recent years has focused more on audio gear. It acquired Ultimate Ears in 2008, and since then has released a variety of headphones and portable speakers under the UE label.