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)
###
For More
Information, Contact:
Eric Nielsen
Step 3 PR
On behalf of
Turtle Beach
202.276.5357
eric@step-3.com
Keith
Hennessey
UK/EU
Communications Director
Turtle
Beach
+44 (0)
1254 51725
keith.hennessey@turtlebeach.com