DSP Group has acquired SoundChip SA to boost its hybrid active noise cancellation (ANC) technology portfolio.
SoundChip’s technology will be combined with DSP’s SmartVoice low-power voice processing platform, algorithms and mixed-signal devices for true wireless stereo (TWS) headsets. Strategy Analytics forecasts the TWS market will grow rapidly in the coming years to 1.2 billion units by 2024 up from 170 million units. DSP Group said this market also represents a total addressable market of $8 billion.
DSP Group will agree to pay $14.5 million on closing of the acquisition and up to an additional $6.0 million after closing, which is expected to close in the third quarter of this year.
“The global pandemic has created extensive challenges for businesses and consumers worldwide, but it has also intersected with DSP Group’s business initiatives, presenting significant new opportunities,” said Ofer Elyakim, CEO of DSP Group. “Major trends, including work from home, remote communications, and voice as a user interface, all emphasize the need for robust, integrated, and highly optimized state-of-the-art voice and connectivity solutions.”
