28th Feb 2014 11:45
LONDON (Alliance News) - Imagination Technologies Group PLC Friday said it has signed a collaboration deal with Japanese home entertainment products company Onkyo Corporation under which the two companies will jointly develop wireless audio music streaming systems and High Quality Audio technology.
As part of the deal, Onkyo has licensed Imagination's wireless multi-room audio streaming platform Caskeid and its FlowCloud internet connection technology, Imagination said in a statement.
Onkyo launched Japan's most successful High Quality Audio download platform called e-onkyo music in 2005, according to Imagination.
"In the last decade we have witnessed a massive increase in music consumption. Unfortunately during this period audio quality has been lost in the rush for convenience. The time has come to raise the bar back up. By working with Imagination and its partners, who are at the centre of this movement, we will aggressively expand wireless audio music streaming and High Quality Audio out of Japan to the rest of the world," Onkyo Chief Executive Munenori Otsuki said in the statement.
Imagination Technologies shares were up 1.7% at 184.2 pence Friday.
By Steve McGrath; [email protected]; @SteveMcGrath1
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