Voice processing technology company Audience went public this week, putting roughly 5.3 million shares on NASDAQ at a starting list price of $17 per share. The company’s stock, under the ticker symbol “ADNC,” opened at $19 a share on Thursday, May 10 and closed the first day of trading at $19.40.
Audience offered 5 million shares of stock, while 270,180 shares were offered by “certain selling stockholders.” Underwriters J.P. Morgan, Credit Suisse, Deutsche Bank and Pacific Crest Securities have a 30 day option to purchase up to 790,527 additional shares.
Silicon-based intelligent voice processing is a key technology for delivering HD voice in the mobile environment. Audience’s family of earSmart chips suppress background noise and enhance mobile voice quality by using algorithms derived from the processes of human hearing. The earSmart family covers a full range of mobile devices from simple feature phones through high-end smartphones and tablets. In addition, Audience has licensed its technology to Apple for incorporation into the latest iPhone CPUs.
Audience silicon can be found in Apple’s products, LG Electronics and Sony, among other handsets. The company also boasts of relationships with AT&T, China Mobile, Sprint, and Vodafone Group.
Over time, Audience excepts its revenue mix to shift from chips (processors) to royalties through more licensing deals. Everybody’s got a fabless CPU, so Audience will license its processing tech for direct incorporation into the chips – as it already does with Apple.