Neural Audio Acquired by DTS for $7.5M
Kirkland, WA-based Neural Audio, a digital sound company, has been acquired by DTS (NASDAQ: DTSI), a technology and entertainment firm in Agoura Hills, CA. The purchase price was $7.5 million in cash, with DTS also agreeing to pay up to $7.5 million more over the next five years if certain conditions are met. No other terms were disclosed. The deal closed on December 31.
Neural Audio focuses on audio signal processing for playback of music, movies, broadcast programs, and video games. Its main markets are digital TV, satellite radio, consumer electronics, and gaming. “The acquisition of Neural Audio strengthens DTS’ position in the important broadcast and automotive markets while also providing immediate access to the evolving satellite and HD radio industries,” said Jon Kirchner, president and chief executive of DTS, in a statement. “We are acquiring an extremely talented team of professionals who we expect will enhance our technology expertise and market knowledge.”
No word yet on the fate of Neural Audio’s Kirkland office, or its employees. The company was founded in 2000 by engineers Paul Hubert and Robert Reams, with the goal of commercializing signal-processing techniques to improve the quality of music files and other audio programs.