Logitech, maker of accessories and Bluetooth speakers, announced on Tuesday it plans to acquire wireless headphone maker Jaybird for $50 million in cash, and a potential for another $45 million if performance targets are met.
The acquisition of Jaybird is the second audio buyout from Logitech, who acquired Ultimate Ears in 2008. Logitech says it will use Jaybird's team and products to better music-listening devices.
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"The Jaybird team will have all the scope to innovate they had before," Rory Dooly, senior vice president for music at the company, said in a statement. "They'll continue to feed the Jaybird brand and design products like the latest X2 wireless buds."
Jaybird's line of products are centered around fitness, a hot market made up of wireless earbuds and fitness trackers. In its early days Logitech focused on PC hardware like keyboard and webcams, however now it's shifting to audio hardware as popularity for mobile listening has grown.