On August 14, Logitech International announced that it intended to acquire privately held Ultimate Ears for $34 million in cash. "Ultimate Ears is a perfect fit for Logitech and our audio business," said Gerald P. Quindlen, Logitech's president and CEO. "Since its inception, Ultimate Ears has been driven by innovation, close ties to its customers, and the desire to enable an immersive audio experience. Logitech's success has been built on using a deep understanding of our customers to create products that let people immerse themselves in their pursuits."
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