Logitech have bought Jaybird, a company known for their range of quality head/earphones, to expand their own presence in the industry.
Logitech announced the acquisition on Tuesday, after they bought the company for $50 million, with a reported potential earn-out of $45 million if they reach their growth targets. Logitech became a big brand name for their quality computer accessories at affordable prices and have since been exploring the world of audio, particularly with bluetooth speakers. After acquiring Ultimate Ears in 2008 the company started producing a variety of headphones and portable speakers.
So what do they plan to gain with Jaybird? Here’s what ex-Ultimate Ears senior vice president and now senior vice president of music at Logitech, Rory Dooley said in their official statement:
The way we consume music has changed radically over the past decade and will continue to do so as we look to the future. Music now goes with us everywhere and as both a shared or solitary experience, it can be integrated into pretty much all aspects of our daily lives thanks to the type of products that both UE and Jaybird have been inventing and commercialising over the last few years.
Since 2011, when I started running the music business, we’ve worked really hard to move beyond our PC speaker roots. We had to do this because the way people listen to music has changed dramatically. We were able to do it by making products that were truly mobile and fit the lifestyle of our target consumers. As we said at the time (and we still say), we want to “make music social” and offer ways for people to take their music anywhere and share it out loud. 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 music. It’s a potent combination.
This common vision around amazing wireless products that bring great music to you whatever you are doing is really compelling. The Jaybird team will have all the scope to innovate they had before. They’ll continue to feed the Jaybird brand and design products like the latest X2 wireless buds. Check out also the Jaybird ambassadors on their website and you’ll really get a flavor for what I am talking about here.
As part of Logitech, we can help Jaybird take everything further, faster. Stay tuned for further updates in the weeks and months ahead.