WiSA Inks Fourth HDTV/PTV License with Multi-billion Dollar Revenue Company, Signaling Rapid Adoption for its WiSA E Immersive Audio Technology

Rhea-AI Summary

WiSA Technologies, Inc. (Nasdaq: WISA) signs its fourth 5-year WiSA E licensing agreement with a major HDTV/PTV brand, showcasing rapid adoption of its immersive audio technology. The integration of WiSA E software into products allows for wireless immersive audio options and full interoperability with WiSA E-enabled speakers from various brands.

Simple integration with Android-based TVs and projectors seeds market for interoperable WiSA E-enabled speakers and soundbars

BEAVERTON, Ore.--(BUSINESS WIRE)-- WiSA Association, a subsidiary of WiSA Technologies, Inc. (Nasdaq: WISA), announced today that it has executed its fourth 5-year WiSA E licensing agreement with a fourth major HDTV/PTV (Projection TV) brand. The WiSA E license allows the brand to integrate WiSA E software into its products, thereby offering consumers a variety of wireless immersive audio options including full interoperability with any of the WiSA E-enabled speakers offered by the many WiSA Association speaker brands.

“We are very pleased that yet another major HDTV brand recognizes the value of our WiSA E technology, as well as our licensing model for market deployment,” said Tony Ostrom, president of the WiSA Association. “With four major TV brands onboard, the market is clearly validating both our technology and our vision of enabling every immersive audio source device with low-cost capability to deliver high-quality interoperable wireless audio to consumers. We continue to pioneer a new era of audio technology for high-quality, immersive audio experiences driven by an increase in demand for exceptional wireless audio solutions.”

WiSA E entails a full suite of audio features that define how audio should be experienced across HDTVs, PTVs, soundbars, mobile devices, set top boxes, and speakers. WiSA E can be implemented across four HDTV SoC providers, including Realtek, Amlogic, Mediatek, and Novatek, and can be designed to be fully interoperable with WiSA-E enabled speakers.

For more information about WiSA E technology 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/wisa-association.

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.

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/20240416889567/en/

Investors:

David Barnard, LHA Investor Relations, 415-433-3777, wisa@lhai.com

Source: WiSA Technologies, Inc.

FAQ

What is the significance of WiSA Technologies signing its fourth 5-year WiSA E licensing agreement?

The agreement with a major HDTV/PTV brand highlights the rapid adoption of WiSA E technology and its integration into products for wireless immersive audio options.

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

The license enables the brand to integrate WiSA E software into its products, offering consumers a variety of wireless immersive audio options and full interoperability with WiSA E-enabled speakers from multiple brands.

Which HDTV SoC providers can implement WiSA E technology?

WiSA E can be implemented across four HDTV SoC providers: Realtek, Amlogic, Mediatek, and Novatek, ensuring full interoperability with WiSA E-enabled speakers.

Who is the president of the WiSA Association?

Tony Ostrom is the president of the WiSA Association, overseeing the recognition and deployment of WiSA E technology in the market.

What is the vision of WiSA Technologies regarding immersive audio experiences?

WiSA Technologies aims to enable every immersive audio source device with low-cost capability to deliver high-quality interoperable wireless audio to consumers, pioneering a new era of audio technology.

How many major TV brands are currently onboard with WiSA E technology?

Four major TV brands have integrated WiSA E technology into their products, showcasing the market validation of the technology and vision of WiSA Technologies.

What are some of the audio features included in WiSA E technology?

WiSA E entails a full suite of audio features that define how audio should be experienced across various devices, including HDTVs, PTVs, soundbars, mobile devices, set-top boxes, and speakers.