March 6, 2014

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Article

ClearOne to Acquire Sabine, Inc.

Press Release

March 6, 2014

Salt Lake City – ClearOne, Inc. has announced it will acquire Sabine, Inc. 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.   

Sabine has partnered with ClearOne since late 2012, supplying the wireless microphone systems sold under the ClearOne brand.

"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."

ClearOne's WS800 wireless microphone systems include four new models of wireless microphones/transmitters and a base-station receiver with either 4 or 8 channels, which connects to professional audio mixers. ClearOne expects to maintain Sabine operations at its current headquarters in Alachua, Florida.

 

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