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QSound said it will make an upfront payment of $1.1 million and will pay the balance over a period of 20 months. As part of the agreement, QSound also has acquired an option to purchase the MachineWorks Northwest mobile gaming business, exercisable until January 31, 2009.
Concurrent with the transaction, QSound also closed the previously announced private placement, issuing 1,925,000 units for consideration of $1,925,000.
Ripp3D is a 3D graphics engine optimized for BREW, Windows Mobile and iPhone platforms.
The Ripp3D engine has been downloaded in over two million games since inception, including Prey Mobile 3D, Duke Nukem Mobile and Stand Down! and will power the graphics for the highly anticipated Prey Mobile 3D launch on the iPhone scheduled for later this year.
"By acquiring the Ripp3D graphics engine, we now have a perfect complement to our 3D positional audio engine for gaming," said David Gallagher, CEO of QSound. "The combination of Ripp3D advanced graphics and QSound's state-of-the-art mQ3D positional audio will deliver a full 3D game experience, bringing a new era of compelling mobile gaming to consumers."
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