Logitech is one of the more recognized names in audio and other peripherals in the consumer electronics industry, and more likely than not a majority of consumers may be more familiar with Logitech’s line up Ultimate Ears wireless Bluetooth speakers that come in a wide range of styles, sizes, and colors. Today Logitech has just announced that they will be looking to expand on their wireless audio presence with the agreement to acquire leading wearable Bluetooth audio company Jaybird for the price of $50 million. Pending successful growth and should the acquisition lead to meeting target goals set forth as part of the sale talks, Logitech has also agreed to an additional $45 million in payout.
While Logitech offers up some of the best and most popular Bluetooth speakers that consumers can find on the market, they don’t really have any footing in the wearable audio market. Jaybird, touted as a leading brand in the wearable audio space for sports enthusiasts and those with an active lifestyle with products like the more recent Jaybird X2 Bluetooth Earbuds, would afford Logitech the opportunity to grow and expand outside their normal realm of products, with both companies capable of bringing a level of expertise to the acquisition and form a quality audio product for consumers.
Logitech’s UE brand of speakers offers up high-quality audio in a form factor that is easily portable and can be taken pretty much anywhere, but with Jaybird under the Logitech umbrella they’ll be able to utilize their global reach to attack new markets, as well as potentially reach new consumers who may have never thought about picking up an Ultimate Ears product before. For the time being, the acquisition is merely in the agreement stage as it still needs to receive an approval and is subject to “customary closing conditions,” however, Logitech expects that the acquisition will be completed within the next few weeks. Beyond the customary closing conditions, the additional $45 million payout that is part of the agreement would happen over a period of two years if target goals are met by both companies within that allotted time frame.