Switzerland based computer peripherals company Logitech International SA LOGI is snapping up popular earbud manufacturer Jaybird, for $50 million in cash. Jaybird will be Logitech’s second acquisition in the audio-focused industry, the first being Ultimate Ears, in 2008.Logitech is also including an additional $45 million earn-out, which will depend on the achievement of certain growth targets of Jaybird’s products over the next couple of years. Subject to customary closing conditions, the deal is expected to close in the coming few weeks.Based in Salt Lake City, Utah, Jaybird is a leader in wireless audio wearables for sports and active lifestyles. It develops Bluetooth enabled wireless earbuds like the X2, its most recent product for active users. The company also sells a wearable fitness tracker called Reign.While Logitech boasts some of the most popular Bluetooth speakers on the market, the company doesn’t really have any presence in the wearable audio market. Jaybird is a prominent player in the wearable audio market for sports enthusiasts and customers with an active lifestyle. The deal will enable Logitech to foray outside their established markets.Jaybird will help Logitech expand its current product portfolio to address customers who prefer headphones over speakers, while benefiting from Logitech’s global distribution network and deep engineering prowess. Just like Ultimate Ears, Jaybird will continue to sell its products under its own brand after the acquisition.Jaybird is set to strengthen Logitech’s foothold in the fast-growing mobile device and earbud markets. With Jaybird on board, Logitech’s portfolio now boasts one of the best sport Bluetooth headphone makers and perhaps the best Bluetooth speaker maker in Ultimate Ears.Wireless earbuds might become even more popular with the launch of Apple Inc.’s AAPL iPhone 7 as it is rumored that Apple might eliminate the headphone jack from the handsets.Logitech does not expect the deal to have a material impact on its fiscal 2017 guidance.Logitech currently holds a Zacks Rank #2 (Buy). Other favorably placed stocks in the same space include Stratasys Ltd. SSYS and Identiv, Inc. INVE. While Stratasys sports a Zacks Rank #1 (Strong Buy), Identiv holds a Zacks Rank #2 (Buy).Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report APPLE INC (AAPL): Free Stock Analysis Report LOGITECH INTL (LOGI): Free Stock Analysis Report STRATASYS LTD (SSYS): Free Stock Analysis Report IDENTIV INC (INVE): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research