A little article from Griffith Enterprise, well done Jono, Ray and Dan…and of course congratulations Judd…awesome to work you and your team!
A Griffith University Business graduate, making use of technology developed by Griffith University researchers has sold his wearable technology company, Jaybird for $US95 Million to giant Swiss technology firm Logitech.
The deal was announced to the US stock market in May
The deal is approximately $50 million in cash, with an additional earn-out of up to $45 million based on achievement of growth targets over the next two years.
Jaybird is one of the world’s largest sellers of wireless audio wearables for sports and active lifestyles. The company was formed in Utah, USA in 2006.
Griffith Bachelor of International Business graduate, Judd Armstrong, Jaybird CEO and founder said, “It
has been an incredible journey. We love what we do, and we’re stoked to continue to innovate and bring amazing new products to our fans.”
“Jaybird will benefit from Logitech’s global distribution network and deep engineering prowess. We’ve watched as they’ve connected incredible products with passionate consumers under the UE brand, and we’re thrilled to be part of the team.”
Founded in 1981, Logitech International is a Swiss public company listed on the SIX Swiss Exchange (LOGN) and on the Nasdaq Global Select Market (LOGI).
In 2015 Mr Armstrong was open and admiring of the education and technological know how that Griffith had given him and how important it was in getting his business started and successful.
One of the great technologies we were able to leverage was Griffith expertise in the ability to detect the movements of different sporting activities. Griffith has been working with elite athletes for a long long time. So we took some of their technology and rolled that into a consumer product.”
The technology integral to the development Jaybirds “Reign” lifestyle band is the Sabel human movement monitoring system, developed at Griffith’s SABEL labs headed by Associate Professor Daniel James. Members of the team working with Jaybird included Ray Leadbetter and currently NZ based Jonathan Neville.
The wearable fitness and health monitoring market has boomed in the last three years and includes companies such as FitBit, Garman and Nike Fuel. The sector is expected to grow to $20 billion in 2015 to almost $70 billion in 2025.
See the original article here https://www.griffith.edu.au/griffith-enterprise/griffith-in-action/ge-news