Logitech today announced plans to acquire popular earbud company Jaybird, in a deal that will cost Logitech $50 million in cash. Jaybird will join Logitech as its second audio-focused company after Logitech brought Ultimate Ears under its umbrella back in 2008.
According to Logitech, it purchased Jaybird to bolster its foothold in the mobile device and earbud markets. Jaybird makes Bluetooth-enabled wireless earbuds like the X2, its most recent product, and the company also has a fitness tracker called Reign. Wireless earbuds may be set to explode in popularity with the launch of the iPhone 7, as rumors suggest Apple will be doing away with the headphone jack on the device.
We bet big on a shift to wireless and this shift has happened big time. As we pursued this bet, we retreated to home base with our existing wearable business - the custom business for professional touring musicians - but all the while we nurtured desires to grow beyond our thriving but niche UE PRO business.
What's Jaybird got to do with all this? Well, not all music gets to be shared out loud! We see it all around us everyday - people love to listen to music everywhere and sometimes in places where listening out loud would just not work. Jaybird hit on a great idea of making products for people actively engaged in sports and who wanted music to power their passion for their sport. With the right product (and Jaybird makes them), you can now pursue your sport with your music. It's a potent combination.
Like with Ultimate Ears, Jaybird will operate under the Logitech brand, continuing to sell Jaybird-branded products like the X2. In a statement, Jaybird CEO Judd Armstrong said Jaybird plans to continue to innovate and introduce new products, but will "benefit from Logitech's global distribution network and deep engineering progress." The acquisition is expected to close "in the coming weeks."