Logitech acquires earbud maker Jaybird in $50M cash deal

Logitech acquires earbud maker Jaybird in $50M cash deal

In an announcement made on Tuesday, consumer gadgets standby Logitech said that it has acquired JayBird, a manufacturer of fitness-centered wireless earbuds and tracking devices.

For the acquisition of JayBird, Logitech has shelled out $50 million in cash. The acquisition is expected to be completed "in the coming weeks."

With JayBird being the manufacturer of popular Bluetooth-enabled wireless earbuds -- its latest product being the X2 earbuds -- and Reign fitness trackers, Logitech's interest in acquiring the company underscores its efforts to strengthen its toehold in the mobile device and earbud markets.

The acquisition of JayBird by Logitech comes at a time when it is being widely projected that the popularity of wireless earbuds will increase substantially in the near future, especially after rumors that tech giant Apple is probably eliminating the headphone jack on its forthcoming iPhone 7 handset.

With regard to the acquisition of JayBird, the company's CEO Judd Armstrong said that Jaybird will operate under the Logitech brand, and will continue to sell its existing products and launch new ones. The acquisition, as per Armstrong, will allow JayBird to "benefit from Logitech's global distribution network and deep engineering progress."