San Diego, CA – October 18, 2017 – Longtime leading audio technology leader Turtle Beach Corporation (NASDAQ: HEAR) today announced a new licensing agreement for its renowned HyperSound® Pro Audio technology with Waves System. The French company plans to continue the production of the HyperSound HSS-3000 model and incorporate Turtle Beach’s innovative HyperSound directed audio technology in key commercial applications such as retail point of sale, wayfinding, museum exhibits, meeting halls, digital signage, kiosks, and more. The agreement provides for an upfront licensing fee and a per unit royalty fee going forward.
“HyperSound’s revolutionary directed audio technology brings definitive advantages to a wealth of commercial applications,” said Juergen Stark, CEO, Turtle Beach. “We’re looking forward to working with the team at Waves System because they truly understand the upside to this technology and are just beginning to unlock the power of HyperSound to create and build groundbreaking commercial audio products.”
Added Bernard Keller, CEO of Waves System, “We have been selling and integrating the commercial HyperSound product for several years and have extensively used the audio technology to the delight of our customers. With our expertise in the product, we have had great success incorporating it into many of our designs, and with this agreement we look forward to the next phase of partnership where we create even more customized, powerful and innovative solutions for our Pro Audio customers.”
HyperSound Pro Audio Solutions is a new generation of audio technology that is changing the way brands think about in-store media. HyperSound’s directed audio solutions offer the unique ability to create customized audio zones that are proven to increase sales and dwell time across a broad range of consumers1.
For more information on the latest HyperSound technology from Turtle Beach please visit http://hypersound.com/pro/.
About Waves System
Founded in 1985, the French company Waves System (http://www.wsystem.com) specializes in the development and manufacturing of interactive audio/video players. Its ID-AL brand and division designs and manufactures custom interactive exhibits and installations in heritage centers, museums, entertainment areas, retail, hospitality and pro audio venues worldwide through its network of distributors.
About Turtle Beach Corporation
Turtle Beach Corporation (http://corp.turtlebeach.com) designs innovative, market-leading audio products for the consumer, commercial and healthcare sectors. Under its award-winning Turtle Beach brand (www.turtlebeach.com), the Company has been revolutionizing console multiplayer gaming since the very beginning with its wide selection of industry leading, award-winning gaming headsets for use with Xbox One and PlayStation®4, as well as for PC, Mac® and mobile/tablet devices. Under the HyperSound brand (www.hypersound.com), the Company markets pioneering directed audio solutions that have applications in digital signage and kiosks, consumer electronics and hearing healthcare. The Company’s shares are traded on the NASDAQ Exchange under the symbol: HEAR.
Cautionary Note on Forward-Looking Statements
This press release includes forward-looking information and statements within the meaning of the federal securities laws. Except for historical information contained in this release, statements in this release may constitute forward-looking statements regarding assumptions, projections, expectations, targets, intentions or beliefs about future events. Statements containing the words “may”, “could”, “would”, “should”, “believe”, “expect”, “anticipate”, “plan”, “estimate”, “target”, “project”, “intend” and similar expressions constitute forward-looking statements. Forward-looking statements involve known and unknown risks and uncertainties, which could cause actual results to differ materially from those contained in any forward-looking statement. Forward-looking statements are based on management’s current belief, as well as assumptions made by, and information currently available to, management.
While the Company believes that its expectations are based upon reasonable assumptions, there can be no assurances that its goals and strategy will be realized. Numerous factors, including risks and uncertainties, may affect actual results and may cause results to differ materially from those expressed in forward-looking statements made by the Company or on its behalf. Some of these factors include, but are not limited to, risks related to the Company’s liquidity, the substantial uncertainties inherent in the acceptance of existing and future products, the difficulty of commercializing and protecting new technology, the impact of competitive products and pricing, general business and economic conditions, risks associated with the expansion of our business including the implementation of any businesses we acquire, our indebtedness, the outcome of our HyperSound strategic review process and other factors discussed in our public filings, including the risk factors included in the Company’s most recent Quarterly Report on Form 10-Q, the Company’s Annual Report on Form 10-K and the Company’s other periodic reports. Except as required by applicable law, including the securities laws of the United States and the rules and regulations of the Securities and Exchange Commission, the Company is under no obligation to publicly update or revise any forward-looking statement after the date of this release whether as a result of new information, future developments or otherwise.
All trademarks are the property of their respective owners.
1POPAI In Association with JMS – HyperSound Final Report, UK & Ireland. (March 2015)
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For More Information, Contact:
Eric Nielsen
Step 3 PR
On behalf of Turtle Beach
202.276.5357
Keith
Hennessey
UK/EU Communications Director
Turtle
Beach
+44 (0) 1254 51725