ClearOne Acquires Sabine

(RTTNews) - ClearOne, Inc. (CLRO) said Wednesday that it has acquired Sabine, Inc., a supplier of professional wireless microphone systems.

Under the terms of the deal, ClearOne will pay about $7.5 million in cash and $1.5 million in stock. 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.

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.

Sabine has partnered with ClearOne since late 2012, supplying the wireless microphone systems sold under the ClearOne brand. Those microphones complement ClearOne's CONVERGE Pro and INTERACT Pro products, driving sales of the company's broader product line.

ClearOne expects to maintain Sabine operations at its current headquarters in Alachua, Florida.