Logitech on Thursday announced plans to acquire Ultimate Ears, the maker of in-ear monitors and consumer earphones. The deal is valued at US$34 million in cash, and is expected to close by the end of August.
Logitech manufactures a wide range of computer peripherals -- game controllers, keyboards, mice, speakers and headphones, remote controls, and other devices. Ultimate Ears specializes in in-ear earphones for both consumers and professionals.
Logitech's acquisition of Ultimate Ears gives the company a foothold in the in-ear canal earphone business; up until now, the company has focused on over-the-ear headsets used for Voice over IP (VoIP) and Internet gaming, and some Bluetooth-based audio gear.