Logitech today announced that the company has agreed to acquire privately held Ultimate Ears,of Irvine, Calif., for $34 million in cash. The long-established leader in custom in-ear monitors for on-stage professional musicians and sound engineers, Ultimate Ears has over the last few years expanded its product line to include a range of acclaimed in-ear consumer earphones for portable music enthusiasts, including users of iPhone, iPod and other MP3 players. The acquisition is subject to customary closing conditions and is expected to close in August.

The acquisition of Ultimate Ears allows Logitech to expand its portfolio of digital audio products, providing more options for portable music listening. The company already offers a line of digital music speaker systems for in the home and on the go. Logitech is also a leading worldwide provider of speakers and headphones for PCs.