Accessory maker Logitech said it has agreed to acquire Jaybird, which is known for its wireless earbuds and fitness trackers geared toward the workout crowd. (Read our review of Jaybird’s X2 here.) Logitech paid $50 million for the company with provisions for up to $45 million in additional payments dependent upon Jaybird hitting growth targets.
Like Ultimate Ears, a Bluetooth speaker company Logitech purchased in 2008, Jaybird will continue to sell products under its own name even after the acquisition. Bracken Darrell, Logitech president and chief executive officer, said the move gains Logitech entry into the burgeoning wireless audio wearables market and will allow his company to combine its audio engineering and design capabilities with Jaybird’s sports expertise.
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