Audinate Group Limited (ASX:AD8) entered into a binding agreement and plan of merger to acquire Iris Studio Inc. for $28 million on June 25, 2025. A cash consideration of $20 million will be paid by Audinate Group Limited. Audinate Group Limited will pay $4 million cash, subject to achieving revenue-based performance conditions, payable after 3 years and of $4 million common equity. subject to achieving service-based conditions over a 3-year period. The transaction will be funded from existing cash reserves and issuance of Audinate shares.
Following the acquisition, current employees of Iris Studio will join Audinate.
The transaction is subject to standard corporate closing conditions including approval by target shareholders. The transaction is expected to close in mid-July 2025.
Audinate Group Limited is an Australia-based developer of Dante audio over IP networking solution. The Companyâs principal activity is the development and sale of digital audiovisual (AV) networking solutions. Dante is its technology platform that distributes digital audio and video signals over computer networks. Dante comprises software and chips, cards and modules that are sold to and integrated inside the AV products of its original equipment manufacturer (OEM) customers. The Company also provides a series of products and services to AV professionals, including AVIO adapters and management and control software. Its Dante IP networking solution is used extensively in the professional live sound, commercial installation, broadcast, public address, and recording industries. Dante replaces traditional analogue cables by transmitting synchronized AV signals across large distances to multiple locations at once, using nothing more than an ethernet cable.
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