Firm to Market 3-D Sound Technology
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IRVINE — An investment group that includes investment bank Cruttenden & Co. of Irvine has formed a new company to purchase two 3-D sound technology product lines from Hughes Aircraft Co. for an undisclosed price.
The new company, SRS Labs Inc., is based in Newport Beach and is run by three investors: Stephen V. Sedmak, formerly with San Ramon-based Rolm Corp.; James S. Lucas, formerly with Hughes Aircraft in Torrance; and Walter Cruttenden, who heads Cruttenden & Co.
Sedmak said Friday that SRS will focus on bringing 3-D sound to the multimedia, car and recording-studio markets. The SRS technology is already licensed to both Sony and RCA for high-end televisions, he said.
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