Logitech announced this morning that it had acquired Irvine, CA-based Ultimate Ears. Logitech picked up the high-end headphone manufacturer fo $34 million in cash.

"Ultimate Ears is a perfect fit for Logitech and our audio business," said Logitech's CEO, Gerald Quindlen. "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 innovative products that let people immerse themselves in their pursuits - whether they are listening to music, gaming, watching a video or otherwise enjoying their digital lifestyle. We look forward to using our worldwide distribution network and operational efficiencies to help more people discover this superior listening experience."

Founded in 1995, Ultimate Ears produces custom made headphones for consumers and professionals. Products in the 40 person company's consumer line run from $40 to $1,200.

After the jump, check out some insight from out lead audio analyst, Tim Gideon.

Alpaytac, Ultimate Ears' PR firm, insists that no immediate changes will be made to the product line. The company, going forward, will be referred to as Ultimate Ears, a Logitech Company.

When I asked whether the engineers who brought us the current designs will be the same engineers to bring us Logitech-Ultimate Ears products in the future, the answers were vague.

So, this very well could mean the gradual end of Ultimate Ears as we know it, but here's hoping Logitech has a firm grasp on what they just paid $34 million in cash for: the world's best custom earphone manufacturer. Ultimate Ears is more than just a brand name and a logo--let's hope it stays that way.