Second Display Brand Signs WiSA E 5-Year License

Rhea-AI Summary

WiSA Technologies, Inc. (NASDAQ: WISA) has signed a second 5-year WiSA E licensing agreement with a major display brand, allowing the brand to integrate WiSA E software into their products for wireless immersive audio options. The agreement follows the first signed agreement less than a month ago, showcasing positive reception from WiSA Association members. WiSA E offers a suite of audio features across various devices and will be demonstrated at CES 2024.

Five Additional Major Display Brands Currently in Review/Approval Cycle for WiSA E License

BEAVERTON, Ore.--(BUSINESS WIRE)-- WiSA Association, a subsidiary of WiSA Technologies, Inc. (NASDAQ: WISA), announces that it has received its second signed 5-year WiSA E licensing agreement with a second display brand. The WiSA E license allows the brand to build WiSA E software into their products thereby providing its consumers with a range of wireless immersive audio options including full interoperability with any of the WiSA E-enabled speakers offered by the many WiSA Association speaker brands.

“This signed agreement comes less than a month after our first WiSA E license agreement with another display brand,” said Tony Ostrom, president of the WiSA Association. “Reaction from WiSA Association members has been overwhelmingly positive, and we look forward to closing more shortly.”

WiSA E entails a full suite of audio features that define how audio should be experienced across HDTVs, soundbars, projectors, mobile devices, set top boxes, and speakers. WiSA E is implementable across four HDTV SoC providers including Realtek, Amlogic, Mediatek, and Novatek.

WiSA E Demonstration at CES 2024

WiSA Technologies will be demonstrating WiSA E at its suite at CES 2024. For more information about CES or the WiSA E licensing program, contact Tony Ostrom, president of the WiSA Association at tostrom@wisatechnologies.com.

Find out more about the WiSA Association at www.wisatechnologies.com.

About the WiSA Association

WiSA® educates, evangelizes and promotes solutions for spatial audio in the home. Working in collaboration with technology developed by WiSA Technologies, Inc., WiSA Association engages with leading consumer electronics companies, technology providers, retailers, and ecosystem partners to make immersive audio an experience everyone can enjoy. WiSA, LLC - the Wireless Speaker and Audio Association - is a wholly owned subsidiary of WiSA Technologies, Inc. For more information about WiSA, please visit: www.wisatechnologies.com.

About WiSA Technologies, Inc.

WiSA Technologies, Inc. (NASDAQ: WISA) is a leading provider of immersive, wireless sound technology for intelligent devices and next-generation home entertainment systems. Working with leading CE brands and manufacturers such as Harman International, a division of Samsung; LG; Hisense; TCL; Bang & Olufsen; Platin Audio; and others, the company delivers immersive wireless sound experiences for high-definition content, including movies and video, music, sports, gaming/esports, and more. WiSA Technologies, Inc. is a founding member of WiSA™ (the Wireless Speaker and Audio Association) whose mission is to define wireless audio interoperability standards as well as work with leading consumer electronics companies, technology providers, retailers, and ecosystem partners to evangelize and market spatial audio technologies driven by WiSA Technologies, Inc. The company is headquartered in Beaverton, OR with sales teams in Taiwan, China, Japan, Korea, and California.

© 2023 WiSA Technologies, Inc. All rights reserved. WiSA Technologies, Inc. and the WiSA Technologies, Inc. logo are trademarks of WiSA Technologies, Inc. The WiSA logo, WiSA®, WiSA Ready™, and WiSA Certified™ are trademarks and certification marks of WiSA, LLC. Third-party trade names, trademarks and product names are the intellectual property of their respective owners.

Safe Harbor Statement

This press release contains forward-looking statements, which are not historical facts, within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. In some cases, you can identify these forward-looking statements by the use of words such as “may,” “could,” “expect,” “intend,” “plan,” “seek,” “anticipate,” “believe,” “estimate,” “predict,” “potential,” “continue,” “likely,” “will,” “would” and variations of these terms and similar expressions, or the negative of these terms or similar expressions. Such forward-looking statements, including statements herein regarding our business opportunities and prospects, as well as our licensing initiatives and expectations, are necessarily based upon estimates and assumptions that, while considered reasonable by us and our management, are inherently uncertain. Readers are cautioned not to place undue reliance on these forward-looking statements. Actual results may differ materially from those indicated by these forward-looking statements as a result of risks and uncertainties regarding, among other items: the degree to which the licensee implements the licensed technology into its products, if at all; the timeline to any such implementation; our current liquidity position and the need to obtain additional financing to support ongoing operations; general market, economic and other conditions; our ability to continue as a going concern; our ability to maintain the listing of our common stock on Nasdaq; our ability to manage costs and execute on our operational and budget plans; our ability to achieve our financial goals; and other risks as more fully described in our filings with the U.S. Securities and Exchange Commission. The information in this press release is provided only as of the date of this press release, and we undertake no obligation to update any forward-looking statements contained in this press release based on new information, future events, or otherwise, except as required by law.

View source version on businesswire.com: https://www.businesswire.com/news/home/20231221691671/en/

Tony Ostrom

President of the WiSA Association

tostrom@wisatechnologies.com

Source: WiSA Technologies, Inc.

FAQ

What is the latest announcement from WiSA Technologies, Inc. (NASDAQ: WISA)?

The latest announcement is the signing of a second 5-year WiSA E licensing agreement with a major display brand, enabling the integration of WiSA E software for wireless immersive audio options.

What does the WiSA E license allow the brand to do?

The WiSA E license allows the brand to build WiSA E software into their products, providing consumers with wireless immersive audio options and full interoperability with WiSA E-enabled speakers offered by various WiSA Association speaker brands.

What devices can WiSA E be implemented across?

WiSA E can be implemented across HDTVs, soundbars, projectors, mobile devices, set-top boxes, and speakers, offering a full suite of audio features.

What will WiSA Technologies be demonstrating at CES 2024?

WiSA Technologies will be demonstrating WiSA E at its suite at CES 2024.

Who is the president of the WiSA Association?

The president of the WiSA Association is Tony Ostrom.