Audinate Group Limited (ASX:AD8) Acquires Iris Studio Inc for US$28M
Acquisition Overview
Audinate Group Limited (ASX:AD8) has entered into a binding agreement to acquire Iris Studio Inc, a US-based leader in AI-powered, cloud-based camera control technology, for up to US$28 million. The transaction includes an upfront cash payment of US$20 million, with additional contingent payments of up to US$8 million based on performance conditions.
Strategic Rationale
The acquisition strengthens Audinate’s video platform capabilities and accelerates its vision for interoperable control and management of audio-visual (AV) devices. It enhances Audinate’s position in the video and control segments, aligning with Dante’s existing customer base across various verticals such as corporate, entertainment, and education.
Transaction Details
The total consideration of up to US$28 million includes US$20 million in cash and up to US$8 million in equity over three years, subject to performance conditions. The deal will be funded from Audinate’s existing cash reserves and the issuance of shares, leaving the company with a strong balance sheet post-transaction. Completion is expected in mid-July 2025, pending standard corporate conditions.
Executive Comments
Audinate Co-founder and CEO Aidan Williams stated, “The addition of Iris to Dante’s ecosystem is a major step forward for the Dante platform. Combining Iris’s broad applicability and cutting-edge remote production capabilities with powerful cloud-based management software like Dante Director will provide significant value to AV professionals managing the millions of Dante-enabled devices in the field today.”
Iris Co-founder and CEO Noah Johnson added, “At Iris, we set out to rethink AV device control – intelligent, intuitive and accessible from anywhere. Partnering with Audinate gives us the scale, reach and deep AV expertise to accelerate our roadmap and bring our vision to the next level.”
Motley Fool contributor Kiarra Jackson has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has positions in and has recommended Audinate Group. The Motley Fool Australia has positions in and has recommended Audinate Group. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.
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