SANTA CLARA, CALIF. -
SONICblue signed a definitive agreement to acquire ReplayTV, a developer of a personal television video recorder and licenser of software technology for networked home entertainment products.
Under the terms of the agreement, SONICblue will issue an aggregate of 15.5 million shares of common stock and options and warrants to purchase shares of SONICblue common stock in exchange for all of ReplayTV's outstanding equity interests, and ReplayTV will become a wholly owned subsidiary of SONICblue.
"We believe that the ReplayTV technology will enable us to scale our strategy to include a broad array of video-based products, applications and services," said SONICblue CEO Ken Potashner.
"With the completion of this acquisition, ReplayTV will have the technical and financial resources needed to bring the future of home entertainment to consumers," said ReplayTV founder/CEO Anthony Wood.