David Hall, Velodyne's former owner, has confirmed the deal after what has been reported as a “year of intense negotiations”. Audio Reference has been distributing Velodyne for more than 20 years in Germany and says they have acquired all stock, spares, patents, designs and tooling for Velodyne subwoofers.

Mansour Mamaghani, Velodyne's new owner, told StereoNET:

We are very excited with the opportunity presented by the Velodyne purchase. Our goal is to reinstate Velodyne as the market leader for compact high powered subwoofers. We understand this will take some time, but we have already brought the Velodyne design team back together to review the existing product line and also our expectations for the future.

Velodyne Acoustics will be working to bring the Velodyne website back online, which will outline the current product line-up availability, as well as how to obtain service support for existing Velodyne products globally. 

Velodyne's global operation will be based at the Audio Reference HQ in Hamburg, Germany.