CITECH Announces MOU with WiSA Technologies to Integrate WiSA E into its HiFi ROSE Line of Media Streamers

CITECH showcases WiSA E receiver module at HIGH END audio show In Munich, May 9-12, 2024

BEAVERTON, Ore.–(BUSINESS WIRE)–WiSA Association, a subsidiary of WiSA Technologies, Inc. (Nasdaq: WISA) and a leading innovator in wireless audio technology for intelligent devices and next-generation home entertainment systems, and CITECH Co., Ltd (004920.KS), a leading South Korean-based manufacturer of hi-fi audio products, digital advertising/information kiosks, and telecommunication media products, today announced the two companies have entered into a strategic partnership designed to integrate WiSA’s powerful WiSA E software into CITECH’s HiFi ROSE line of media streamers. Additionally, CITECH plans to develop a receiver module that the company will market to its partner speaker companies to accelerate the deployment of WiSA E-enabled speakers. The combination of WiSA E receiver module along with WiSA E-enabled HiFi ROSE media streamer ensures seamless delivery of WiSA’s high-quality wireless multichannel audio. CITECH will be demonstrating their line of HiFi ROSE media players at the HIGH END audio Show in Munich, Germany from May 9th through May 12th.

“We are proud to build WiSA E capabilities into our products and offer superb multichannel wireless audio to our customers,” said Sean Kim, Chief Operating Officer, CITECH. “Our HiFi ROSE product line delivers world-class sound quality to listeners seeking the range, detail, and overall musicality of a true audiophile system in a single, easy-to-use product. WiSA E technology complements our brand promise of excellence and makes it easy for our customers to enjoy immersive audio out of the box.”

CITECH plans a two-pronged approach to bringing WiSA E technology to market. Through their HiFi ROSE brand, CITECH will enable its media streamers to transmit up to 6 channels of wireless audio using the WiSA E transmitter technology. To seed the market with a number of WiSA E certified speakers, CITECH has developed a WiSA E receiver module that will be made available to CITECH’s numerous speaker partners for integration into speaker products.

“CITECH is an ideal partner for WiSA,” said Tony Ostrom, president of the WiSA Association. “The company is focused on building an ecosystem of interoperable WiSA E certified speakers to complement their line of media streamers. We encourage any speaker system that wants to become part of the WiSA E ecosystem to contact CITECH; their receiver module is the perfect foundation for building WiSA E-certified speakers.”

Visit CITECH at the HIGH END audio trade show at the MOC Event Center Messe Munich from May 9 to 12, Hall 2, G04/J03. CITECH will showcase their line of HiFi ROSE media streamers and their receiver module designed to allow speaker brands to easily build WiSA E certified receiver functionality into speakers.

• For more information about CITECH and the HiFi ROSE line of products, contact Sean Kim at seankim@citech.kr.
• For more information about WiSA E technology or the WiSA E licensing program, contact Tony Ostrom, president of the WiSA Association at tostrom@wisatechnologies.com.
• To receive a WiSA E demonstration at the HIGH END trade show, email James Cheng at jcheng@wisatechnologies.com.

About the WiSA Association

WiSA® educates, evangelizes, and promotes solutions for spatial audio in the home. Working in collaboration with technology developed by WiSA Technologies, Inc., WiSA Association engages with leading consumer electronics companies, technology providers, retailers, and ecosystem partners to make immersive audio an experience everyone can enjoy. WiSA, LLC – the Wireless Speaker and Audio Association – is a wholly owned subsidiary of WiSA Technologies, Inc. For more information about WiSA, please visit: www.wisatechnologies.com.

About WiSA Technologies, Inc.

WiSA Technologies, Inc. (NASDAQ: WISA) is a leading provider of immersive, wireless sound technology for intelligent devices and next-generation home entertainment systems. Working with leading CE brands and manufacturers such as Harman International, a division of Samsung; LG; Hisense; TCL; Bang & Olufsen; Platin Audio; and others, the company delivers immersive wireless sound experiences for high-definition content, including movies and video, music, sports, gaming/esports, and more. WiSA Technologies, Inc. is a founding member of WiSA™ (the Wireless Speaker and Audio Association) whose mission is to define wireless audio interoperability standards as well as work with leading consumer electronics companies, technology providers, retailers, and ecosystem partners to evangelize and market spatial audio technologies driven by WiSA Technologies, Inc. The company is headquartered in Beaverton, OR with sales teams in Taiwan, China, Japan, Korea, and California.

About CITECH Co., Ltd

CITECH Co., Ltd. manufactures and sells identification and ticket issuing machines in South Korea. It also manufactures digital advertising and information kiosks, hi-fi audio, and telecommunication media products. The company also develops and sells broadcasting, digital content, access control systems, equipment rentals, as well as operates restaurants and sells groceries. Further, it develops software and sells hardware related tools and programs as well as operates online education and learning platforms. The company was formerly known as Sam Yung Holdings Co., Ltd. and changed its name to CITECH Co., Ltd. in April 2015. CITECH Co., Ltd. was founded in 1967 and is headquartered in Seoul, South Korea.

Safe Harbor Statement

This press release contains forward-looking statements, which are not historical facts, within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. In some cases, you can identify these forward-looking statements by the use of words such as “may,” “could,” “expect,” “intend,” “plan,” “seek,” “anticipate,” “believe,” “estimate,” “predict,” “potential,” “continue,” “likely,” “will,” “would” and variations of these terms and similar expressions, or the negative of these terms or similar expressions. Such forward-looking statements, including statements herein regarding our business opportunities and prospects, as well as our licensing initiatives and expectations, are necessarily based upon estimates and assumptions that, while considered reasonable by us and our management, are inherently uncertain. Readers are cautioned not to place undue reliance on these forward-looking statements. Actual results may differ materially from those indicated by these forward-looking statements as a result of risks and uncertainties regarding, among other items: the degree to which the licensee implements the licensed technology into its products, if at all; the timeline to any such implementation; our current liquidity position and the need to obtain additional financing to support ongoing operations; general market, economic and other conditions; our ability to continue as a going concern; our ability to maintain the listing of our common stock on Nasdaq; our ability to manage costs and execute on our operational and budget plans; our ability to achieve our financial goals; and other risks as more fully described in our filings with the U.S. Securities and Exchange Commission. The information in this press release is provided only as of the date of this press release, and we undertake no obligation to update any forward-looking statements contained in this press release based on new information, future events, or otherwise, except as required by law.

Contacts

Investor Contact:

David Barnard, LHA Investor Relations, 415-433-3777, wisa@lhai.com