omniture

AuraSound Acquires Key Assets from Arvani

2012-03-30 21:00 1317

SANTA ANA, Calif., March 30, 2012 /PRNewswire-Asia-FirstCall/ -- AuraSound, Inc. (OTC BB: ARUZ.OB) today announced that they have acquired key assets from Arvani, a Norway based consumer electronics company. Included in the acquisition is the Arvani trademark, transfer of Arvani's current customers, and key staff. Mr. Ove Kristensen, previously CEO of Arvani, has joined AuraSound as General Manager, Europe.

"The Arvani acquisition is another key step in our previously announced strategy to expand our sales significantly outside of the U.S. market," stated Mr. Harald Weisshaupt, AuraSound CEO and President. "In addition to providing AuraSound with the recognized Arvani brand, it provides immediate access to some well-established retailers across several countries. We have initiated customer engagements and plan to ship our industry-leading TV soundbars products into these new channels next quarter. I am very excited to have someone with Ove's breadth of experience, market knowledge, and business relationships join the AuraSound senior executive team. He brings the leadership required to ensure that we meet our aggressive sales revenue growth targets for the European market."

Safe Harbor Statement

This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Reliance should not be placed on forward-looking statements because they involve both known and unknown risks, uncertainties and other factors, which are, in some cases, beyond the control of AuraSound. Any statements in this press release that are not statements of historical fact are forward-looking statements, including, but not limited to, those relating to the AuraSound's long-term strategic objectives. Actual events, performance or results could differ materially from the anticipated events, performance or results expressed or implied by such forward-looking statements. BEFORE MAKING ANY INVESTMENT DECISIONS REGARDING OUR COMPANY, WE STRONGLY ADVISE YOU TO READ THE SECTION ENTITLED "RISK FACTORS" IN OUR MOST RECENT ANNUAL REPORT ON FORM 10-K, WHICH CAN BE ACCESSED AT WWW.SEC.GOV. We undertake no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.

About AuraSound, Inc.

AuraSound has 25 years of experience specializing in the design and manufacturing of very high-end speakers, consistently providing people with an optimal audio experience. AuraSound's broad range of products include TV soundbars, high-quality drivers for TV's, and state-of-the art subwoofers and tactile transducers for the professional and specialty audio markets. AuraSound's products are based on patented and proprietary NRT® Drivers, Bass Shakers, Line Source tweeters and more. With their 2010 acquisition of ASI Audiotechnologies, they added new customers, additional proprietary transducer technology, application specific amplifier designs and award winning ID designs. For more information visit the company website at www.aurasound.com.

Contact:
Ove Kristensen
General Manager, Europe
AuraSound, Inc.
Tel:+ 47 4085 2040
Email:okristensen@aurasound.com

Source: AuraSound, Inc.
Related Stocks:
OTC:ARUZ
collection