Closing of acquisition of Altia Systems

GN News

Mar 11, 2019

On February 19, 2019, GN Audio announced a conditional agreement to acquire Altia Systems Inc. ("Altia Systems"). Altia Systems, based in Cupertino, California (USA), is a leading innovative developer of premium video communications solutions utilizing digital multi-camera array technology.

All necessary conditions have now been met and GN Audio has completed the acquisition of Altia Systems.

This allows GN Audio to expand into plug & play audiovisual communications solutions, supporting companies’ collaboration and meeting efficiency. GN Audio already commands a strong position in the Unified Communications market with the Jabra Evolve line of headphones and leadership in speakerphones for small meeting rooms and personal use with the successful Jabra Speak line of products. Adding video capability to these leading positions gives GN Audio immediate access to the highly attractive market of plug & play audiovisual communications solutions for small collaboration rooms – so-called huddle rooms.

"We are pleased to have reached an agreement to acquire Altia Systems," said René Svendsen-Tune, President and CEO of GN Audio. "The acquisition further strengthens our unique value proposition by delivering leading plug & play audiovisual communications. Combining GN Audio’s sound expertise, partner eco-system and global channel access with the video technology from Altia Systems, we will take the experience of conference calls to a completely new level."

"Combining PanaCast’s immersive, intelligent video with GN Audio’s intelligent audio solutions will enable us to deliver a whole new class of collaboration products for our customers," said Aurangzeb Khan, President and CEO of Altia Systems. "PanaCast’s solutions enable companies to improve meeting participants’ experience, automate workflows, and enhance business efficiency and real estate utilization with data lakes of valid information."

See the announcement of the acquisition

For further information, please contact: 

Investors and analysts
Peter Justesen
VP – Investor Relations & Treasury
Tel: +45 45 75 87 16  

Rune Sandager
Senior Manager Investor Relations
Tel: +45 45 75 92 57

Press and the media
Steen Frentz Laursen
VP – Group Communication
Tel: +45 20 65 34 20

Lars Otto Andersen-Lange
Head of Media Relations & Corporate Public Affairs
Tel: +45 45 75 02 55

About GN Group
The GN Group is a global leader in intelligent audio solutions that let you hear more, do more and be more than you ever thought possible. Our ambitious 150-year journey has taken us from telegraph cables to radio waves and intelligent audio engineering. To celebrate our anniversary, we look to our unique competences within medical, professional and consumer audio solutions to help us continue to transform lives through the power of sound.

GN was founded with a truly innovative and global mindset. Today, we honor that legacy with world-leading expertise in the human ear, sound, wireless technology, miniaturization and collaborations with leading technology partners. GN's solutions are marketed by the brands ReSound, Beltone, Interton, Jabra and BlueParrott in 100 countries. Founded in 1869, the GN Group employs more than 6,000 people and is listed on Nasdaq Copenhagen (GN.CO).

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About Altia Systems
Altia Systems® is based in Cupertino, CA., and is the creator of the PanaCast® systems and Intelligent Vision software products. Altia Systems’ PanaCast solutions deliver real-time 180° Panoramic-4K, Panoramic-5K and 4K 3D video streams from integrated, synchronized and optimized multi-camera arrays. PanaCast systems and Intelligent Vision (artificial intelligence) software products are used by more than 1,600 companies worldwide, including 200+ universities, for video collaboration, education, AR/VR, live broadcasting and machine learning for autonomous systems. PanaCast system devices are designed and assembled in the U.S. and have received prestigious awards such as CES Innovation Awards Honoree, Frost & Sullivan New Product Innovation, GOOD DESIGN award, Gartner Cool Vendor in Unified Communications, and more. 

For more information and the latest updates, visit www.panacast.com and follow @PanaCast1 via Twitter. 

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