Sonos, the Santa Barbara based smart speaker firm has confirmed acquiring Paris and Tokyo-based voice assistant startup Snips for $37 million in an all-cash deal. Through the deal, Sonos will take over the European office along with the 50 staff and control over the voice-specific patents.
Snips was founded by Mael Primet, Michael Fester, and Rand Hindi in 2013. The company has been developing dedicated smart device assistants that do not need the reliance on voice data or anything. Since its inception, the firm has secured $16.3 million with $13 million coming in January 2017 as part of the Series A round. The backers in the firm include MAIF Avenir, Korelya Capital, Bpifrance, Eniac Ventures, 500 Startups, The Hive, Xavier Niel, and Brent Hoberman.
Sonos, on the other hand, was founded by Craig Shelburne, John MacFarlane, Thomas Cullen, and Trung Mai in 2002. Sonos has pouched over $450 million in funding from the backers like Index Ventures, Redpoint, Elevation Partners, Greenspring Associates, e.ventures, Kohlberg Kravis Roberts, and EquityZen.
Patrick Spence, CEO of Sonos commenting on the deal said, “Millions of people have come to enjoy the ease of controlling music with their voice. Today’s announcement gives us the added talent and technology to create an even more differentiated and immersive experience for customers, both inside and outside of the home. We’re excited to welcome an incredible Snips team to the Sonos family to help bring this vision to life.”
Dr. Rand Hindi, the Snip CEO commenting on the acquisition said, “I am extremely proud of the team and the work we have accomplished over the last five years. The technology we have created has been validated by one of the leaders in consumer electronics. I am thrilled that, joining an international company, Snips will continue its operations in France, helping French technologies succeed at an international level.”
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