DTS Inc. has acquired Neural Audio Corp.
It plans to expand its offerings in the broadcast, satellite radio, automotive and gaming markets. DTS makes decoders for surround sound processors.
The Agoura Hills, Calif.-based DTS paid $7.5 million in cash and may pay up to $7.5 million more over five years if certain conditions are met. The transaction closed on Dec. 31. DTS President/CEO Jon Kirchner announced the purchase.
While Radio World readers know Neural for its work in surround sound audio for HD Radio, the Kirkland, Wash.-based company also developed surround audio for music, movies, broadcast video and video games.
Among those moving to DTS with the deal are Geir Skaaden, chief executive officer; Mark Seigle, president and chief operating officer; Jeff Thompson, director of engineering, and James “JJ” Johnston, chief scientist.
Separately, DTS hired other executives and plans to open an R&D facility in Silicon Valley to focus on furthering its development of technologies for the online, PC and mobile device markets.
Joining DTS and heading the R&D effort in Silicon Valley will be Dr. Jean-Marc Jot, known for work in audio signal processing; he led development of audio playback enhancement technologies and intellectual properties for Creative Labs Advanced Technology Centre.
DTS also announced the addition of Principal Audio Engineer Dr. Martin Walsh and Senior Audio Engineer Edward Stein, also formerly of the Creative Labs Advanced Technology Centre.