GN Audio has signed an agreement to acquire Altia Systems—developer of video communications solutions utilizing digital multi-camera array technology. GN Audio makes intelligent audio solutions for the call center and offices (CC&O) market, operating under the Jabra and BlueParrott brands. The products from Altia Systems are currently marketed under the brand PanaCast.
The total purchase consideration is up to $125 million on a debt- and cash-free basis; around $12 million is linked to retention agreements to be expensed by GN Audio during 2019-2021.
“We are pleased to have reached an agreement to acquire Altia Systems,” said René Svendsen-Tune, president and CEO of GN Audio. “The acquisition further strengthens our unique value proposition by delivering leading integrated audio and video communications. Combining GN Audio’s sound expertise, partner ecosystem, and global channel access with the video technology from Altia Systems, we will take the experience of conference calls to a completely new level.”
The acquisition of Altia Systems allows GN Audio to expand into integrated audio and video communications solutions, supporting companies’ collaboration and meeting efficiency. Adding video capability to its unified communications products gives GN Audio immediate access to the highly attractive market of integrated audio and video solutions for huddle rooms.
“Combining PanaCast’s immersive, intelligent video with GN Audio’s intelligent audio solutions will enable us to deliver a whole new class of collaboration products for our customers,” added Aurangzeb Khan, president and CEO of Altia Systems. “PanaCast’s solutions enable companies to improve meeting participants’ experience, automate workflows, and enhance business efficiency and real estate utilization with data lakes of valid information.”
Altia Systems, which was founded in 2011, will—under GN Audio’s ownership—initiate global commercialization of its current products, as well as invest in its product pipeline. An identified group of key people from Altia Systems will continue to lead its Cupertino-based development activities following the transaction.
The agreement to acquire Altia Systems is contingent on certain customary closing conditions.