WiSA Strikes Game-Changing Fifth WiSA E Licensing Deal with Global Consumer Electronics Leader
18 April 2024 - 10:45PM
Business Wire
Licensing revenue will include royalty payments
on transmitting (TX) software and engineering services; production
targeted for the second half of 2024
WiSA Technologies, Inc. (Nasdaq: WISA), a leading innovator in
wireless audio technology for intelligent devices and
next-generation home entertainment systems, announced today the
signing of a WiSA E licensing agreement with a top-three consumer
electronics leader in their category. By licensing WiSA E software
and embedding WiSA E’s multichannel immersive audio functionality
into their source devices, the licensee will eliminate the costly
burden of additional hardware and will allow their end users to
activate the embedded audio functionality by purchasing speakers
designed to connect with the media device. Consumer-based
activation of WiSA’s immersive audio opens a new avenue of revenue
generation for the company.
“This is a game changer in the industry,” said Brett Moyer, CEO
of WiSA Technologies. “WiSA E will be used by a major CE
manufacturer to embed high-quality immersive audio functionality in
their devices – functionality that can be activated by the consumer
in their home. This is significant because this new model seeds the
market with WiSA E and gives the consumer the ability to upgrade
their home entertainment system at any time they choose. With this
model, WiSA has a built-in aftermarket revenue stream with each
activation of its software. This is exactly why WiSA Technologies
chose to convert its award-winning hardware into a software
model.”
Under the terms of the agreement, the Company’s licensing
revenue will include royalty payments on its transmitting (TX)
software tied to a user’s activation of WiSA’s embedded immersive
audio functionality. The activation model enables manufacturers to
cost-effectively build audio-rich features which can generate
aftermarket revenue from the sale of external speakers. Production
devices as a result of this agreement are expected in the market in
the second half of 2024.
WiSA E entails a full suite of audio features that define how
audio should be experienced across HDTVs, soundbars, projectors,
mobile devices, streaming media devices, and speakers. WiSA E is
implementable across major SoC providers, including Realtek,
Amlogic, Mediatek, and Novatek, enabling WiSA E functionality to be
built into existing hardware platforms.
For more information about WiSA E and the WiSA E licensing
program, contact James Cheng at jcheng@wisatechnologies.com. Find
out more about the WiSA Technologies at
www.wisatechnologies.com.
About WiSA Technologies, Inc.
WiSA Technologies, Inc. (NASDAQ: WISA) is a leading provider of
immersive, wireless sound technology for intelligent devices and
next-generation home entertainment systems. Working with leading CE
brands and manufacturers such as Harman International, a division
of Samsung; LG; Hisense; TCL; Bang & Olufsen; Platin Audio; and
others, the company delivers immersive wireless sound experiences
for high-definition content, including movies and video, music,
sports, gaming/esports, and more. WiSA Technologies, Inc. is a
founding member of WiSA™ (the Wireless Speaker and Audio
Association) whose mission is to define wireless audio
interoperability standards as well as work with leading consumer
electronics companies, technology providers, retailers, and
ecosystem partners to evangelize and market spatial audio
technologies driven by WiSA Technologies, Inc. The company is
headquartered in Beaverton, OR with sales teams in Taiwan, China,
Japan, Korea, and California.
© 2024 WiSA Technologies, Inc. All rights reserved. WiSA
Technologies, Inc. and the WiSA Technologies, Inc. logo are
trademarks of WiSA Technologies, Inc. The WiSA logo and WiSA® are
trademarks and certification marks of WiSA, LLC. Third-party trade
names, trademarks and product names are the intellectual property
of their respective owners.
Safe Harbor Statement
This press release contains forward-looking statements, which
are not historical facts, within the meaning of Section 27A of the
Securities Act of 1933, as amended, and Section 21E of the
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herein regarding our business opportunities and prospects,
production dates, future revenues, and licensing initiatives and
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inherently uncertain. Readers are cautioned not to place undue
reliance on these forward-looking statements. Actual results may
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other items: the degree to which the licensee implements the
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version on businesswire.com: https://www.businesswire.com/news/home/20240418612422/en/
For product information: jcheng@wisatechnologies.com For
investor information: David Barnard, LHA Investor Relations,
415-433-3777, wisa@lhai.com
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