JAYS Group AB completes the earlier announced acquisition of the Danish award-winning audio brand CLINT® Digital
Regulatory press release 28th of February 2019 JAYS Group AB has per 28th of February 2019 completed the earlier announced acquisition of the award-winning Danish lifestyle audio brand CLINT® Digital to expand into connected audio and multiroom & smart speakers. CLINT® Digital has been among the pioneers in Nordic design multiroom streaming speakers and was founded 2006. The CLINT® brand will be included into the JAYS Group AB organization from 1st of March 2019. The dedicated team of CLINT® Digital (run by the original founder and commercial director Brian Larsen together with Head of Product Development René Larsen and Product designer and the Creative Director Phillip Bodum) will focus to continue to develop and grow the CLINT® brand and to bring new exciting smart speakers and connected audio products to market already in second half of 2019. All CLINT® Digital activities including IPR rights has been transferred to JAYS Group AB. Jays has paid a fixed purchase price of 750 000 SEK for all the CLINT® activities including IPR rights, tooling and inventory. The seller EET and JAYS have agreed to honor the co-operation and sales of certain products through EET Group’s sales and distribution channels, and that JAYS will continue to develop the product portfolio of the CLINT® brand. JAYS forecast the sales revenue of the CLINT® activities to approximately 10 MSEK in 2019 with a positive EBITDA result, followed by continuous strong growth following years based on the upgraded product portfolio. The new brand strategy is to upgrade the entire CLINT® Digital product portfolio to latest industry standards with Google Assistant and Amazon Alexa, and at the same time also support the latest Apple Airplay 2 standards. “By keeping the brand DNA and classic modern designs and adding the Nordic lifestyle brand and product approach already available at JAYS Group this will bring valuable expertise for sales and marketing for CLINT® and will take the brand further among the rapidly growing Smart Speaker and Connected audio category. The entire Clint team believes that there is an unreleased potential that the new owner will be able to utilize and leverage on the coming years and we are dedicated to make it happened” – says Brian Larsen, founder of CLINT® Digital and acting Commercial Director. JAYS Group AB believes strongly in the CLINT® brand and its potential. Based on the Nordic design legacy of ‘Nordic living’ and its less-is-more concept of CLINT® Digital, the brand has won many prestigious worldwide awards including IF Design Awards, Red Dot awards, Good Design Award. ‘The Clint brand identity goes hand in hand with JAYS Group’s brand strategies, and our future expansion plans to create a strong group within Audio & Sound and Smart Mobility & Connectivity areas. We are very much looking forward to strengthen the partnership with the seller EET Group, and to develop the Clint brand together with the two founders Brian and Rene Larsen and the Product designer and the Creative Director Phillip Bodum”, says CEO Henrik Andersson from JAYS Group AB. All customer and supplier contacts have been handed over to the new owner, who is to be contacted in the future in this regard as well as other inquiries related to future commercial business involving CLINT® Digital: Brian Larsen Commercial Director Phone: +45 20 21 20 02 & Email: bla@clintdigital.com For overall and general information in regards to this Press Release, please contact : Henrik Andersson CEO, Jays Group AB Phone: +46 76 199 35 55 & Email: henrik@jaysheadphones.com |
| About CLINT® CLINT® Digital is a multi award-winning brand from Denmark for connected audio and multiroom streaming. All meant for the growing digital and design oriented worldwide audience. We takes pride in being an innovative and forward thinking brand. The product range is mainly developed and designed in Denmark and strongly focuses on the Nordic design and simple functionality. CLINT® creates digital products that include state-of-the-art technology, sophisticated design and user-friendliness for everyone. No wires – no cables – no hassle. About JAYS Group AB Jays Group AB is a publicly listed company on Nasdaq First North. It was founded in 2006 with a vision that everyone should have the opportunity to experience great sound and design. Our goal is to create the ultimate personal companion for the modern individual looking to express themselves in their pursuit of a meaningful and experience-rich life. JAYS Group AB lately expanding into Smart Mobility with the acquisition of KRUSELL AB. This brand has a legacy of high-quality mobile accessories since 1991 and with a strong dedication and Nordic appeal in this area. In staying true to our overall vision, we have always been on the forefront of both technology and design innovation helping to contribute and push the market forward. Rooted in our Swedish heritage, our design philosophy emphasizes harmony through a blend of functionality and style. By focusing on clean lines and uncluttered curves, we use minimalism to achieve excellence. Nothing more, nothing less. Made to enhance your lifestyle, our products are designed to express the fundamental human values that we all crave in our lives — simplicity, beauty, quality. The perfect balance. Or as we say in Swedish, ‘Lagom’ Jays vision and growth strategy is based on strong organic growth with profitability in combination with acquisition-driven growth within the audio segment and other close related verticals within consumer electronics such as smart-connectivity and mobile products. In 2017 Jays Group announced the new Group strategy, with a target of a yearly turnover of 200 MSEK by the end of 2019 and approximately 300 MSEK by the end of the three-year period 2018-2020. JAYS Group currently has offices in Sweden, Germany, Hong Kong, Mainland China and its 100% owned production facility in Thailand. Jays Group AB (publ) is noted at Nasdaq OMX First North. Certified Adviser is Mangold Fondkommission AB. Engelbrektsplan 2, 114 34 Stockholm, tel. 08-503 015 50, e-mail: CA@mangold.se. |
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