Tuesday, January 6, 2009
DTS Buys Neural Audio, Opens Silicon Valley Offices
Agoura Hills-based DTS has acquired Neural Audio, a firm which develops music playback and creation technology, the firm said Tuesday afternoon. DTS said it will pay $7.5M in cash for certain assets and liabilities of Neural Audio, and will pay up to $7.5M in earn out over the next five years if certain conditions are met. As part of the acquisition, the firm said it has hired on Geir Skadden, the firm's CEO; Mark Seigle, President & COO, Jeff Thompson, Director of Engineering; and James "JJ" Johnston, Neural Audio's Chief Scientist. Neural Audio is based in Kirkland, Washington, and develops audio analyzers, devices for delivering surround sound, and other audio equipment and IP. Separately, DTS said it has opened up an R&D facility in Silicon Valley, which the firm said will focus on online, PC, and mobile device markets. The new Silicon Valley facility will be led by former Creative Labs scientist Dr. Jean-Marc Jot. DTS is a developer of surround sound and other audio technology.