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Parametric Sound Corp Merges With Turtle Beach-DJ

Monday, 5 Aug 2013 05:13pm EDT 

Dow Jones reported that Parametric Sound Corporation and Turtle Beach announced that the companies have reached a Definitive Agreement to merge in a stock for stock transaction. The merger will combine Parametric's audio innovations with Turtle Beach's financial, technical, design, sales and marketing resources. Parametric's research and development capabilities will be leveraged to accelerate innovation enabling the combined company to deliver sustained growth and shareholder value. The combined company will be able to leverage Turtle Beach's global distribution network and experience to bring new products to market. Turtle Beach headsets are sold at more than 27,000 storefronts across 40 countries, including retailers such as Best Buy, Carrefour, GameStop, HMV, Sainsbury, Target, Tesco and Walmart. The merger transaction, approved by the Board of Directors of both companies, is expected to close before the end of the 2013. Houlihan Lokey is acting as financial advisor to Parametric, and Craig-Hallum Capital Group LLC provided a fairness opinion to its Board of Directors. J.P. Morgan Securities LLC is acting as financial advisor to Turtle Beach. 

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