Sonomax Technologies sells half of itself for $10 million
by CanadianManufacturing.com Staff
The deal with a Taiwan-based holding company includes 51% of its intellectual property and patent portfolio along with 100 million shares
MONTREAL—A Montreal-based manufacturer of hearing protection products has gone ‘halvsies,’ agreeing to sell 51% of its intellectual property and patent portfolio along with 100 million shares to ValueLink Holdings Ltd. in Taiwan.
The deal with Sonomax Technologies Inc. is worth $10 million in aggregated cash and stocks and will close by February 19, 2013.
On closing, ValueLink will enter into a separate agreement granting Sonomax exclusive rights to use the intellectual property, subject to certain minimum performance requirements.
Sonomax makes advanced hearing protection products under the SonoFit brand name that prevent to Noise Induced Hearing Loss (NIHL). It supplies OEM, ODM and aftermarket clients in the consumer, military and health markets.
ValueLink Holdings is a Taiwanese-owned strategic Intellectual Property (IP) aggregator that commercializes and licenses its IP portfolios to ODMs and OEMs around the globe.