Universal Electronics Inc. (UEI) will pay $12.5 million to acquire home networking technology specialist SimpleDevices Inc. The deal could include unregistered UEI stock based on undisclosed performance-based incentives.
Closely-held SimpleDevices makes wireless home networking software for TVs, set-tops, stereos, and automotive audio systems. Motorola Broadband has been one of SimpleDevices' high profile technology partners in recent years. Other SimpleDevices customers include Pioneer, Rockford and Gibson.
UEI expects to incorporate SimpleDevices' technology into its own line of remotes and handheld digital media controls.
The deal "further builds our strategic vision for delivering seamless digital connectivity, whether the user is at home, in the car, or on the go," said UEI Chairman and CEO Paul Arling, in a release.