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Logitech International SA (USA) (NASDAQ: LOGI) decided to increase the variety of devices in its portfolio with the acquisition of Blue Microphones. The company has reached a $ 117 million deal for the hardware manufacturer's purchase behind the famous Yeti and Snowball broadcast microphones.
The acquisition is expected to strengthen the company's prospects in the audio space where it already operates speakers and gaming headsets. With the acquisition, Logitech has essentially added an important dimension that should help to become a key player in a rapidly expanding space.
Blue offers high-end products for music producers. However, in the recent past, the company has sought to expand its footprint in the gaming space with the development of microphones and game bundles. The company's products range from 60 to over $ 4000.
"The acquisition of Blue Microphones by Logitech will accelerate our entry into a growing market and offer us another way to bring people's pbadions to life. Joining Blue is an adjacent opportunity for us – a new way to grow – with additional synergies related to our gaming categories, webcam and PC audio, "said CEO Bracken Darrell.
Stellar Q1 Results
The acquisition of Blue comes just days after Logitech announced impressive financial results in the first quarter. The company reported earnings per share of $ 0.34, exceeding badysts' estimates of $ 0.28 per share. The turnover, meanwhile, stood at $ 608 million against a consensus estimate of $ 586.73 million.
Driven by the financial results of the first quarter, the company has raised its outlook for 2019. Logitech expects its sales to increase between 9 and 11%, up from previous growth prospects for the first half of the year. sales to a high number. The company expects its non-GAAP operating profit outlook to be in the range of $ 325 million to $ 335 million, up from an initial forecast of $ 310 million to $ 320 million.
Logitech attributes the excellent financial results of the first quarter to the diversity of its portfolio. innovation. Logitech is an attractive investment, but these MUST BUY Inventory should skyrocket
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The author did not invest in stock discussed in this article.
