Sonos Announces Acquisition of Mayht Holding BV
April 11 2022 - 8:00AM
Business Wire
Sonos, Inc. (Nasdaq: SONO) (“Sonos”) today announced the
acquisition of Mayht Holding BV (“Mayht”), a Netherlands-based
company that has invented a new, revolutionary approach to audio
transducers. Transducers are the foundational element within
speakers that create sound, and Mayht has re-engineered them to
enable smaller and lighter form factors without compromising on
quality.
“Mayht’s breakthrough in transducer technology will enable Sonos
to take another leap forward in our product portfolio,” said
Patrick Spence, CEO. “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.”
“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.”
Under the terms of the agreement Sonos acquired Mayht for
approximately $100 million in existing cash on hand. Further
details will be provided on Sonos’ Q2 earnings call in May.
Forward-Looking Statements
Certain statements herein constitute “forward-looking
statements” within the meaning of the Private Securities Litigation
Reform Act of 1995. Forward-looking statements are based on
management’s current expectations, beliefs, assumptions, and
estimates. These forward-looking statements include statements
regarding the acquisition of Mayht and its impact on our product
portfolio and business strategies and opportunities. These
forward-looking statements are only predictions and may differ
materially from actual results due to a variety of factors,
including, but not limited to the ability to integrate Mayht’s
employees, operations and technology into our business and
products; the benefits of the acquisition and impact on our
business and products; and the other risk factors set forth under
the caption “Risk Factors” in our Quarterly Report on Form 10-Q for
the quarter ended January 1, 2022 and our other filings filed with
the Securities and Exchange Commission (the “SEC”), copies of which
are available free of charge at the SEC’s website at www.sec.gov or
upon request from our investor relations department. All
forward-looking statements herein reflect our opinions only as of
the date of this press release, and we undertake no obligation, and
expressly disclaim any obligation, to update forward-looking
statements herein in light of new information or future events.
About Sonos
Sonos (Nasdaq: SONO) is the world’s leading sound experience
company. As the inventor of multi-room wireless home audio, Sonos
innovation helps the world listen better by giving people access to
the content they love and allowing them to control it however and
wherever they choose. Known for delivering an unparalleled sound
experience, thoughtful design aesthetic, simplicity of use, and an
open platform, Sonos makes the breadth of audio content available
to anyone. Sonos is headquartered in Santa Barbara, California.
Learn more at www.sonos.com.
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