US-based high-end speaker maker Sonos has acquired a Dutch speaker company called Mayht Holding BV.
Sonos acquired Mayht for around $100 million in cash.
In a press release announcing the acquisition, CEO Patrick Spence claims that “this strategic acquisition brings Sonos “another incredible people, technology and intellectual property that will further define the Sonos experience, increase our competitive advantage and accelerate our future roadmap will”.
Mayht specializes in professional, automotive, Bluetooth and voice-enabled home speakers.
According to Sonos, Mayht “invented a new, revolutionary approach to audio transducers”.
Sonos is a public company in the US on NASDAQ.
The voice firm says more details about the acquisition will be provided on its second-quarter conference call in May.
The acquisition follows the launch of Sonos’ $7.99 per month HD radio subscription service in late 2020.
The launch of Sonos’ Radio HD service followed the April 2020 launch of the company’s ad-supported streaming service Sonos Radio.
Patrick Spence has been Sonos’ CEO since 2017 following the departure of former CEO and founder John McFarlane.
“Mayht’s breakthrough in transducer technology will allow Sonos to take another leap forward in our product portfolio.”
Patrick Spence, Sonos
“Mayht’s breakthrough in transducer technology will allow Sonos to take another leap forward in our product portfolio,” said Patrick Spence, CEO of Sonos.
“This strategic acquisition brings us another incredible people, technology and intellectual property that will continue to define the Sonos experience, enhance our competitive advantage and accelerate our future roadmap.”
“We are very excited and proud to be a part of Sonos.”
Mattias Scheek, Mayht
Mattias Scheek, Mayht CEO, added: “We are very excited and proud to become a part of Sonos.
“Our dream has always been to set a new standard in the audio industry. Integrating our technology into Sonos products will continue to revolutionize sound quality.”music business worldwide
https://www.musicbusinessworldwide.com/sonos-strikes-100m-deal-to-buy-netherlands-based-speaker-firm-mayht/ Sonos completes $100 million deal to buy Dutch speaker company Mayht