ClearOne acquires professional wireless microphone solutions supplier. Acquisition of Sabine, Inc. secures continued access to product central to ClearOne’s growth strategy.
SALT LAKE CITY, UTAH (March 5, 2014) – ClearOne, Inc. (NASDAQ: CLRO) today announced the acquisition of Sabine, Inc., solidifying the company’s industry-leading portfolio of professional microphones. With the addition of Sabine, ClearOne will have reliable and exclusive access to the wireless microphones that are a critical component of ClearOne’s complete microphone portfolio. Under the terms of the transaction, ClearOne will pay approximately $7.5 million in cash and $1.5 million in ClearOne shares. In addition, ClearOne will assume and pay off Sabine debt of $1.25 million and make earn-out payments over the next three years, based on achievement of certain performance criteria.