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Consumer Electronics Watch: AuraSound Buys ASI Holdings

August 17, 2010 (FinancialWire) — AuraSound Inc., (OTCBB: ARUZ) has completed its acquisition of substantially all of the business assets and certain liabilities of ASI Holdings Ltd., a Hong Kong firm, and its wholly-owned subsidiary, ASI Audio Technologies, LLC an Arizona limited liability company.

Simultaneous with the closing of the ASI transaction, the company named Harald Weisshaupt as the new president and CEO, effective immediately.

Weisshaupt was previously president and founder of ASI. Weisshaupt was also appointed to serve as a member of AuraSound's board of directors.

Arthur Liu, AuraSound's prior chairman and CEO, resigned effective with the closing of the ASI transaction.

Weisshaupt said that the two companies have complementary strengths.

California-based AuraSound specializes in the design and manufacturing of high-end speakers. The company’s range of products include TV speakers, notebook speakers, microspeakers and subwoofers and tactile transducers.

ASI is a global provider of audio solutions. The company owns transducer technology, application specific amplifier designs, and ID designs.

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