CEVA Buys RealSpace 3D Spatial Audio Business From VisiSonics; Terms Not Disclosed

(RTTNews) - CEVA, Inc. (CEVA), a smart sensing technologies manufacturer, said on Wednesday, that it has acquired RealSpace3D Spatial Audio business, technology and patents from VisiSonics Corporation.

Financial terms of the deal are not yet known.

The acquisition will bolster CEVA's position in hearables market where spatial audio is fast gaining momentum.

RealSpace spatial audio provides accurate digital simulation of real-life, immersive sound in the industry. It has proprietary algorithms that create a realistic aural experience. With dynamic head tracking RealSpace aims to provide the user with a more immersive experience. Through headphones or earbuds when watching movies, playing video games or listening to music, podcasts or conference calls.

CEVA said in a statement," the VisiSonics spatial audio R&D team and software extend the Company's application software portfolio for embedded systems, bolstering CEVA's strong market position in hearables, where spatial audio is fast becoming a must-have feature."

In premarket activity on the Nasdaq, CEVA shares were trading at $23.72, down 0.12 percent