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December 10, 1997 - ENSONIQ, a world leader in audio technology, today announced that is has entered into an agreement to be acquired by Creative Technology Ltd. Creative, based in Singapore, is the worlds’ leading provider of multimedia technology for the personal computer. This strategic acquisition will enable ENSONIQ and Creative to extend their reach in the PCI audio segment of the PC OEM and PC motherboard markets. Creative’s corporate headquarters and primary manufacturing are based in Singapore, with sales, distribution, and research and development being carried out though an extensive, global network of subsidiaries located in North America, Europe, Asia, and Africa. ENSONIQ is a key innovator in the design and development of PCI audio microchip technology and has strong brand recognition associated with its line of electronic musical instruments.
Per the acquisition, which was signed on Tuesday, December 9, 1997, Creative will pay up to US$77 million in cash for ENSONIQ . The closing of the transaction is subject to the receipt of regulatory approval.