JAYS Group to acquire connected audio and speaker brand CLINT® Digital

22-02-2019

By Mateen Dalal

Premium headphones and app company, JAYS Group AB, has reportedly entered into a binding agreement for acquiring CLINT® Digital, the award-winning lifestyle audio brand from Denmark. The CLINT® brand, to become a part of JAYS Group organization starting March 1, 2019, is considered as a pioneer in multiroom speakers of Nordic design.

According to sources with knowledge on the matter, JAYS would be setting up a dedicated team in Denmark for CLINT® Digital to expand and develop the brand further, along with bringing new connected audio products and smart speakers to market in second half of 2019. The team would apparently be run by Brian Larsen, the commercial director and original founder of CLINT®.

Phillip Bodum, the Product designer & Creative Director and René Larsen, Head of Product Development, both having strong knowledge of the brand and global market for the products, would also work with Larsen to run the company.

Sources informed that closing of the deal is scheduled for 28 February 2019, when the previous owners of CLINT® would transfer all activities of the brand, including IPR rights, to JAYS Group AB. After the deal is completed, JAYS would pay a fixed purchase price of 750,000 SEK for all the activities of CLINT®, including tooling, inventory, IPR rights, among others.

EET Group, previous owner of CLINT®, and JAYS have confirmed they would honor the cooperation and sales of specific products through the sales and distribution channels of EET, while JAYS will continue developing CLINT® brand’s product portfolio.

JAYS Group, sources mention, has projected that CLINT® activities could bring in sales revenue of 9 to 18 MSEK a year during the 2019-2020 period with positive EBITDA numbers. With the new upgraded and more complete portfolio of CLINT® products to be launched in 3rd quarter of 2019, JAYS believes there is significant opportunity for growth.

Supposedly, the new brand strategy for CLINT® involves upgrading the brand’s entire product range to the latest standards in the industry with Amazon Alexa and Google Assistant, simultaneously supporting the new Apple Airplay 2 standards.