Sonos Snaps Up Voice Tech Company Snips for $37.5M
SANTA BARBARA, Calif. -- Sonos today announced the acquisition of Snips SAS, an AI voice platform for connected devices that provides private-by-design voice technology. The acquisition will bring a talented group of employees and strategic IP to Sonos to make the voice experience on Sonos even better.
Founded in 2013 and based in Paris, France, the Snips team, comprised of over 50 talented engineering, machine learning and product development professionals, has built a leading platform and tools for creating tailored voice experiences. Its full-stack solution is built with proprietary technology allowing for voice processing on the device. This localized processing maximizes accuracy, efficiency and privacy while minimizing footprint and cloud dependency. Snips' voice assistants are custom-built for specific tasks and designed to run alongside other general purpose voice assistants currently on the Sonos platform.
Under the terms of the agreement, Sonos acquired Snips for approximately $37.5 million, subject to purchase price adjustments and holdbacks. The transaction closed on November 14, 2019.