Business
CSS announces new licensing agreement
CSS announces new licensing agreement.
About this update from Roadside Real Estate Plc
[{"type":"text","content":"\n\nThis announcement contains inside information for the purposes of Article 7 of the Market Abuse Regulation (EU) 596/2014 as it forms part of UK domestic law by virtue of the European Union (Withdrawal) Act 2018 (\"MAR\"), and is disclosed in accordance with the company's obligations under Article 17 of MAR.\n \n \nBarkby Group PLC\n \n(\"Barkby\" or the \"Company\")\n \n \nCambridge Sleep Sciences Announces Bowers & Wilkins Licensing Deal and Partnership Agreement\n \n \nBarkby (AIM: BARK) announces that its subsidiary, Cambridge Sleep Sciences, (\"CSS\") the science-based sleep technology business behind SleepHub®, has signed a new partnership and license agreement with Bowers & Wilkins, part of the consumer audio division of Masimo Inc., the US headquartered global medical technology company. Masimo Consumer Audio owns one of the world's largest portfolios of audio companies, with brands including Bowers & Wilkins, Denon, Marantz, Polk, Definitive Technology, Classe, Heos and Boston Acoustics. \n \nThe agreement enables the unique SleepEngineTM technology, developed by CSS and used within its SleepHub® product, to be delivered through Bowers & Wilkins Audio's premium products, including the Bowers & Wilkins Zeppelin wireless speaker and Px7 and Px8 wireless headphones. Masimo Consumer Audio will be responsible for marketing and distributing SleepEngineTM. Accessed through the Bowers & Wilkins Music Store, customers will be able to choose from a range of programmes that deliver scientifically developed sounds which retrain the brain to restore natural sleep patterns. \n \nCSS and Bowers & Wilkins will share the revenue generated from the new service. Given the number of users of Bowers & Wilkins products globally, Masimo Consumer Audio and CSS expects the license to generate substantial revenues. The agreement is initially valid until 31 December 2025 and can be renewed for an additional three years by mutual consent. \n \nDr Julian Stone, CEO at CSS said:\n\"We are delighted to be partnering with Masimo Consumer Audio. This deal shows significant progress in the growth of the CSS business. Following the success of our SleepHub® product, being able to offer our unique SleepEngineTM technology in such hig...