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No, it is a systems game. Products like the Rio or the Empeg are solutions or systems. How many of DNNAs licensors took only the software or only the hardware reference design? I don't know, but I'd bet it isn't a significant number.

I can't reveal any details of Rio's licensing deals, however it is fairly obvious to anyone in the industry that most of the licensing value is in the software. The hardware for any of Rio's players could be designed from scratch at minimal cost.

Any given hardware design might cost in the region of a few tens of thousands of dollars to produce. The Rio software has cost many millions over the last several years - it would take a brave executive to hand over the source. I can't even begin to imagine what value Rio executives might perceive in doing so.

Rob