Thursday, October 7, 2010
AERIAL7 Acquired by iGo
AERIAL7, a Los Angeles-based firm which develops headphones for mobile electronics and professional audio devices, has been acquired by electronics accessory maker iGo, iGo said late Thursday. According to iGo, it paid $3.34M in cash for AERIAL7, which also has offices in Byron Bay, Australia. iGo said it also has signed on key employees Seth Egorin, Phil Johnson and Eljay Driessens, and granted each of them 150,000 in restricted stock units. iGo said that AERIAL7 had approximately $2.0M in annualized revenues. AERIAL7's headphones are targeted at DJ's, iPod, iPhone, and Blackberry, as well as for Skype.