Tuesday, January 6, 2009

Neural Audio Acquired By DTS

Kirkland, Washington-based Neural Audio, a developer of audio processing intellectual property and products, has been acquired by DTS, a California-based developer of surround sound and audio processing technology. According to DTS, it will pay $7.5M in cash for certain assets and liabilities of Neural Audio, plus up to $7.5M in future payments over the next 5 years if certain conditions are met. DTS will also be hiring Neural Audio's executive team, including CEO Geir Skadden, Mark Seigle, the firm's President & COO; Jeff Thompson, Director of Engineering; and James "JJ" Johnston, Neural Audio's Chief Scientist.