Logitech buys Jaybird for US$50 million in cash
Logitech buys Jaybird for US$50 million in cash
Logitech has just announced that it has acquired audio device maker for US$50 million in cash.
The deal could get even larger as there's an additional US$45 million up for grabs that is based on achievement growth targets over the next two years.
Based in Salt Lake City, Utah, Jaybird is most famous for its range of wireless Bluetooth headphones. The company also has an activity tracking wrist band called the Reign.
In response to the deal, Logitech said that "the way we consume music has changed radically over the past decade" and that acquiring Jaybird will allow Logitech to meet the various needs and demands of users.
In addition, Logitech also said that Jaybird will continue to operate as a separate entity and that they will be free to design and release their own products.