ClearOne secures microphone portfolio through acquisition with Sabine
Published: ASIA
WORLD: ClearOne has announced the acquisition of Sabine, solidifying the company’s portfolio of professional microphones. With the addition of Sabine, the company will have reliable and exclusive access to the wireless microphones that are a critical component of its complete portfolio.
Sabine has partnered successfully with ClearOne since late 2012, supplying the wireless microphone systems sold under the ClearOne brand. These microphones complement ClearOne’s Converge Pro and Interact Pro products, and according to the company, ‘lead the industry in features, performance and pricing’.
‘The wireless microphone product has performed well and has driven sales across our Pro portfolio since its introduction more than a year ago,’ said Zee Hakimoglu, chairman and CEO of ClearOne. ‘This strategic acquisition is critical to solidifying our leadership position in this high-growth market and positions us for accelerated development of installed audio and visual collaboration solutions.’
The company’s WS800 wireless microphone systems include four new models of wireless microphones/transmitters and a base-station receiver with either four or eight channels, that connects to audio mixers.
Under the terms of the transaction, ClearOne will pay approximately $7.5 million in cash and $1.5 million in ClearOne shares. In addition, ClearOne will assume and pay off Sabine debt of $1.25 million and make earn-out payments over the next three years, based on achievement of certain performance criteria. ClearOne expects to maintain Sabine operations at its current headquarters in Alachua, Florida.
Commenting on the acquisition was founder and CEO of Sabine, Doran Oster. ‘We look forward to combining resources with ClearOne to offer a complete portfolio of professional products to a global customer base,’ he said. ‘We are pleased to join a company with a track record that reflects our shared vision for product innovation and quality.’