Logitech is extending its reach into the headphones category with the planned acquisition of Jaybird.
Jaybird manufactures headphones geared toward athletes and was the No. 3 premium headphones brand in 2014, according to The NPD Group, falling behind just Beats and Bose.
Logitech will acquire the Salt Lake City-based Jaybird for approximately $50 million in cash, Logitech said, with an additional earn-out of up to $45 million based on achievement of growth targets over the next two years. The deal is expected to close in the next few weeks.
Jaybird has approximately 100 employees, a Logitech spokeswoman said. A small product team in Redwood City, Calif., will move to Logitech’s nearby Newark, Calif., office.
Logitech also owns the Ultimate Ears portable audio brand, which it purchased in 2008. Bracken Darrell, Logitech president/CEO, noted in a statement: “With both the Ultimate Ears and Jaybird brands in our portfolio, we are expanding the long-term growth potential of our music business.”