INDIANAPOLIS (Inside INdiana Business) — Indianapolis-based Emmis Communications Corp. (Nasdaq: EMMS) has acquired the sound masking business of Lencore Acoustics Corp. in New York. As part of the more than $75 million deal, 33 Lencore employees will join Emmis, including the business unit’s leadership team.
Emmis says Lencore’s sound masking unit does business in nearly every U.S. state, as well as in Europe. The company’s sound masking technology pumps what is described as barely-perceptible background sound into a space to ensure speech privacy and increase workplace productivity.
“Emmis’ experience in building best-in-class operations, coupled with its unique people-first culture is the perfect fit to complement the talented Lencore team, and will give them the resources and support necessary to grow the business,” Emmis Chief Executive Officer Jeff Smulyan said in a news release. “We believe that the continued move toward open-concept offices makes effective sound masking solutions more and more important.”
The acquisition closed on Tuesday. Emmis says the offices for the sound masking business will remain in New York.