WiSA Technologies signs LoI to acquire Comhear, Inc.
WiSA Technologies, a developer of spatial, wireless sound technology for smart devices, has signed a non-binding letter of intent to acquire Comhear, Inc., a developer of AI-enabled adaptive audio technology.
Comhear’s proprietary adaptive filtering and beam steering system captures environmental room dynamics, processes data in real time, and adjusts the audio output.
“The synergy between the two companies is compelling on many levels, with similar business models driven by audio IP, licensing and module sales,” says Brett Moyer, CEO of WiSA, in a press release. “We are targeting many of the same customers yet offer complementary solutions that address different use cases, providing WiSA’s sales team with more products to sell to our customers. We are both poised to penetrate the audio market through licensing our technologies.”
The CEO continues to say that he expects the acquisition of Comhear to position WiSA to take market shares in this growing market.
WiSA expects the addition of Comhear to be accretive beginning in Q4 2023. As a result, the company is guiding for full-year 2024 revenue in the range of USD 10 million to USD 15 million.
“Our strategy to license and sell IP-embedded audio modules perfectly overlaps with WiSA’s business model, and our technology is a natural fit in WiSA’s ecosystem. The combined company can leverage WiSA’s many established customer relationships with new products along with additional market segments that have been the focus of Comhear,” adds Andy Arno, Chairman of Comhear.
The transaction is expected to close in the third quarter of 2023.
