Audio solution provider DaySequerra announced it has reached an agreement to acquire Orban, a provider of audio processing solutions for broadcast transmission. Financial terms were not disclosed.
The acquisition remains subject to approval by the shareholders of Orban’s parent company Circuit Research Labs, Inc, which formerly traded on the OTC/BB NASDAQ. Circuit Research Labs ceased issuing SEC filings in late 2008. At the time, it was a $14 million annual revenue business.
Orban is a long-standing brand in the broadcast industry. The Company was originally founded in 1975 by Bob Orban. It was acquired by AKG Acoustics in 1989, which in turn was subsequently purchased by Harman International in 1993. Harman divested Orban to Circuit Research Labs in 2000.
In May 2010, the Brentlinger family, the principal owners of Circuit Research Labs, publicly announced their intention to seek to divest majority ownership of Orban. By August 2010, the Brentlinger family changed course and decided to retain their investment position.
Orban is also a founding member of the Broadcast Industry Group (BIG), announced ahead of IBC 2014. BIG consists of Orban, SCMS, Jampro, DaySequerra, BW Broadcast, Bird Technologies, and StreamGuys and is intended to “promote the consolidation of key manufacturers and service providers in the broadcast industry.”
“The synergistic opportunity that this acquisition represents is just fantastic – opportunities like this don’t happen very often. We look forward to working with Bob’s team and Orban Europe to develop and bring to market the next-generation of intelligent audio processing in the broadcast, consumer and automotive spaces,” said DaySequerra’s President, David Day.
Jay Brentlinger, President, CEO and Chairman of Circuit Research Labs added “We are really excited about DaySequerra’s acquisition of Orban and to work together with David and his team. With a significant array of technologies, these combined companies will be a formidable force in the marketplace.”
Press release: DaySequerra Acquires Orban
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