In context: Logitech has amassed an impressive portfolio of brands over the years which includes Ultimate Ears, Jaybird, Astro Gaming and Logitech G. Its latest acquisition plugs Logitech into a new space but one that runs parallel with its other interests.
Logitech has agreed to purchase audio production company Blue Microphones. Terms of the deal weren’t specified in either company’s post although according to The Verge, it’s an all-cash transaction valued at $117 million.
Blue Microphones was founded in 1995 by Skipper Wise and Martins Saulespurens. The company sells microphones, headphones and accessories to musicians, gamers, YouTubers, podcasters and streamers across a variety of price ranges.
Ownership of the company has changed hands a couple of times over the past decade – first in 2008 when it was sold to private equity firm Transom Capital and again in 2013 when The Riverside Company came knocking.
Logitech CEO Bracken Darrell said the purchase will accelerate their entry into a growing market and offers another way for them to help bring people’s passions to life. Blue CEO John Maier echoed similar sentiments, saying it helps them fulfill their ultimate purpose – helping as many of their users find and amplify their voice as they can.
Maier also teased that Blue has some new products in development but stopped short of sharing any details.
With the acquisition, Logitech further expands its portfolio of brands. In 2016, the company purchased private consumer electronics company Jaybird for $50 million and last summer, it welcomed console headset maker Astro to the family for $85 million in cash.