Sonomax Hearing Healthcare Inc, Montreal, announced today it has sold the rights and associated assets for its proof-of-performance software system for use in testing hearing protection devices for $2 million to 3M.
“The injection of new, non-dilutive cash will go a long way towards firmly establishing the new Sonomax,” said Dan Casey, CEO of Sonomax.
The software is currently sold under the brand name SonoPass® by Sonomax, and under the brand name E-A-Rfit by Aearo Technologies, a wholly owned subsidiary of 3M.
3M has also committed to purchasing an additional $350,000 of Sonomax products. A perpetual, royalty-free license from 3M allows Sonomax to continue to use the software to support all of its core technologies, including SonoCustom hearing protectors for a range of industrial applications and other uses; SOUNDCAGE, the custom fit earphones for use with MP3 players; and SonoComm, the custom fit earpiece used for two-way radios and
other custom fit in-ear devices.
Sonomax will continue to focus on its core competency of leveraging the expansion technology custom earpiece for various applications.
Sonomaxis develops and manufactures intraear technologies. The company’s patented, custom-fit, instant-fit expansion earpieces deliver a perfect fitting earpiece with guaranteed acoustic seal using the proof of-performance software. The company has expanded the applications for its technologies into consumer products such as earphones for music and entertainment, and earpieces for other applications such as Bluetooth™ headsets and hearing aids.