The company has a nice little historical explainer about the Logitech Media Server & Squeezebox. We got our first Squeezebox back in 2004 (I think) well before Logitech acquired Slim Devices.
DAC32 is essentially an embedded host for Squeezelite, the very same player that is bundled with PiCorePlayer for use on Raspberry Pi. DAC32 includes the host platform & digital-to-analogue conversion (DAC) in a tidy, integrated package. Connectivity is provided by onboard 2.4 GHz b/g/n Wi-Fi and Bluetooth. Power is 5 vdc via a standard coaxial connector.