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Logitech has agreed to acquire privately held Ultimate Ears, of Irvine, Calif., a supplier of consumer earphones as well as custom in-ear monitors for professional musicians and sound engineers. The sale price is $34 million in cash.
According to Logitech, the acquisition will allow the company to expand its portfolio of digital audio products, providing more options for portable music listening.
Currently the company's audio portfolio includes portable and home digital music speaker systems, and speakers and headphones for PCs.
Ultimate Ears offers a line of consumer earphones for the iPhone, iPod and other MP3 players.
Ultimate Ears was founded in 1995 to address the sound-monitoring needs of on-stage rock musicians, developing the industry's first high-performance two-way, custom in-ear stage monitors, according to Logitech.
In 2005, Ultimate Ears expanded its product line with universal-fit earphones for audiophiles and mainstream music enthusiasts. Pricing for the company's consumer products start at $40, while pricing for custom products can be as much as $1,200.
The acquisition is subject to customary closing conditions and is expected to close this month.
This TWICE webinar, hosted by senior editor Alan Wolf, will take a look at what may be the hottest CE products at retail that will be sold during the all-important fourth quarter. Top technologies, market strategies and industry trends will be discussed with industry analysts and executives.