Sonos (Nasdaq: SONO) and Legrand (Paris: LGRVF) jointly announced a multi-year licensing deal to cover the entire range of Legrand’s Nuvo multi-room wireless audio products. As part of this agreement, Legrand will pay to license Sonos’ patents for all such audio products.
“Sonos innovation created multi-room wireless audio – the technologies we invented enable many of today’s listening experiences and we continue to innovate to enable the experiences of tomorrow,” said Eddie Lazarus, Chief Legal Officer. “We believe in a fair marketplace where companies compete on a level playing field and contribute with their own innovations and experiences. We’re pleased to see more companies such as Legrand recognizing the strength and value of our IP and providing appropriate compensation.”
Sonos is the No. 1 brand in the CE Pro Brand Analysis with 71% market usage among the CE Pro 100. Legrand‘s Nuvo brand is primarily sold via distribution versus direct to dealers, but it still has a 6% usage rate among top integrators.
In its recent Q3 report to investors, Benoît Coquart, Legrand’s Chief Executive Officer, cited Nuvo’s P5000 Pro-Series home audio systems among other products as having a strong quarter even though as a whole Legrand’s Q3 2020 sales were down 8%, primarily due to weakness in the commercial market.
Santa Barbara, Calif.-based Sonos recently reported record-setting Q4 revenues of $339.8 million. Despite the challenges presented by COVID-19, the company beat market expectations for revenue by more than $40 million for the quarter.
The popular audio company says its fiscal 2020 marked the 15th consecutive year in a row in which its performance exceeded expectations.
Legrand’s portfolio of well-known product lines includes C2G, Cablofil, Electrorack, Luxul, Middle Atlantic, Nuvo, OCL, On-Q, Ortronics, Pass & Seymour, Pinnacle, QMotion, Quiktron, Raritan, Solarfective, Vantage, Wattstopper, and Wiremold.