DTS Acquires Neural Audio
Agoura Hills, CA - Jan 6, 2009 - DTS has acquired Neural Audio. The acquisition brings aboard executive and technical talent including Geir Skaaden, CEO; Mark Seigle, president and COO; Jeff Thompson, director of engineering; and James Johnston, chief scientist.
DTS paid $7.5 million in cash for certain assets and liabilities of Neural Audio and may pay up to $7.5 million of additional cash consideration over the next five years if certain conditions are met. The transaction closed on Dec. 31, 2008 and is expected to be accretive in 2009.
Separately, DTS hired several other executives and plans to open a research and development facility in Silicon Valley. Joining DTS and heading the R&D effort in Silicon Valley will be Dr. Jean-Marc Jot. DTS also hired Principal Audio Engineer Dr. Martin Walsh, and Senior Audio Engineer Edward Stein.
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