Sonos announces that they have acquired Mayht Holding BV, a Netherlands-based audio transducer company.
Transducers are the foundation element in speakers which create sound. According to a joint press release, Mayht has “re-engineered them to enable smaller and lighter form factors without compromising on quality.”
According to the press release, the terms of the agreement show Sonos acquired Mayht for approximately $100 million in existing cash on hand. Further details will be provided on Sonos’ Q2 earnings call in May.
Sonos (Nasdaq: SONO) says the acquisition of Mayht Holding BV will enable the home audio company to take a leap forward in its product portfolio.
“This strategic acquisition gives us more incredible people, technology and intellectual property that will further distinguish the Sonos experience, enhance our competitive advantage, and accelerate our future roadmap,” says Patrick Spence, CEO, Sonos.
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“We are very excited and proud to become a part of Sonos,” said Mattias Scheek, CEO of Mayht. “Our dream has always been to set a new standard in the audio industry. The integration of our technology into Sonos products will further revolutionize high quality sound.”