Today, Logitech International has announced Jaybird LLC of Salt Lake City, Utah, was acquired by them for approximately $50 million in cash, with an additional earn-out of up to $45 million based on the target's achievement growth over the next two years.
For those who aren't familiar with Jaybird, Jaybird is one of the leading companies manufacturing wireless audio wearables for sports and active lifestyles in 2008. Bracken Darrell, Logitech President, and Chief Executive Officer commented that Logitech is impressed by their technology, products, and marketing that Jaybird did, and since both share a passion for products, they decided to work as one team
"With advantages of Jaybird’s strong brand and sports expertise, and our combined audio engineering and design capabilities. With both the Ultimate Ears and Jaybird brands in our portfolio, we are expanding the long-term growth potential of our music business.” Judd Armstrong, founder and Chief Executive Officer of Jaybird, said, “It has been an incredible journey. We love what we do, and we’re stoked to continue to innovate and bring amazing new products to our fans. Jaybird will benefit from Logitech’s global distribution network and deep engineering prowess. We’ve watched as they’ve connected incredible products with passionate consumers under the UE brand, and we’re thrilled to be part of the team.”
As recently shared at the company's Analyst and Investor Day last month, Logitech is not expecting the acquisition to impact their FY 2017 guidance, because the acquisition is subject to customary closing conditions and is expected to close in the coming weeks. A financial advice by Stifel provided Jaybird some insight throughout the acquisition process.
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