Components |
Wolfson to acquire Dynamic Hearing
Wolfson Microelectronics plc has signed a binding agreement, subject to certain customary closing conditions, to acquire the entire issued share capital of Australian-based software solutions company, Dynamic Hearing PTY Ltd for a consideration of up to AUD 5.0m (USD 5.2m), payable in cash.
Commenting on the acquisition, Mike Hickey, CEO of Wolfson, said: "We are delighted to welcome Dynamic Hearing's highly skilled team of employees into the Wolfson family. This acquisition secures important intellectual property, adds to our customer base and supports our leadership position in delivering HD Audio solutions for the consumer electronics market."
Anthony Shilton, CEO of Dynamic Hearing, said: "This is a great opportunity for Dynamic Hearing to become part of a leading global audio solutions company. We will have an expanded capacity to market and deploy our existing intellectual property and software around the world. Our team here in Australia are looking forward to developing industry-leading software to complement and enhance Wolfson's HD Audio solutions."
