ByteDance completed the acquisition of Oladance for $50m.

ByteDance, a Chinese multinational internet technology company, completed the acquisition of Oladance, a business that creates top-notch audio goods, for $50m. It is the latest step toward developing wearable devices that could become the next home for its tech after smartphones. TikTok’s Chinese owner has finalized the deal and dispatched staff to work with the Shenzhen-based startup founded five years ago. The acquisition brings on board a team of seasoned former Bose engineers.