apt-X to expand licensing business after sale of hardware division
March 19, 2009 //
Audio compression and codec design specialist apt-X (Belfast, Northern Ireland) plans to invest the undisclosed but "substantial" proceeds received for selling its broadcast hardware division to Audemat (Lille, France) on the expansion of its licensing business.
LONDON &$151; Audio compression and codec design specialist apt-X (Belfast, Northern Ireland) plans to invest the undisclosed but "substantial" proceeds received for selling its broadcast hardware division to Audemat (Lille, France) on the expansion of its licensing business.
The new activity will be known as APT Licensing Ltd and the deal involves a perpetual licensing deal with Audemat that means the French group will continue to incorporate both the apt-X and Enhanced apt-X audio compression algorithms in the APT branded range of hardware codecs and across the products of Audemat group.
Noel McKenna, chief executive of APT Licensing, one of Belfast's pioneering high-tech companies, said: "Today marks an exciting new chapter in the 20-year history of our apt-X technology, a high-end audio compression algorithm for broadcasters, and now consumers. The substantial capital raised by the profitable sale of our hardware subsidiary will be invested in our on-going mission to make apt-X the 'must-have' technology for highest-quality digital audio, especially in consumer electronics."
Recent licensees of apt-X include Creative Labs, Shure and Bluegiga, the Bluetooth module OEM. The company said further licensees for the audio compression technology and IP are set to be announced soon.
Bruno Rost, President of the Audemat group added that following the acquisition, the group will offer integrated and easy to use solutions to its customers. "APT's broadcast hardware division has a powerful synergy with the capabilities, ambitions and culture of the rest of the Audemat group, and complements and strengthens Audemat's value proposition to digital broadcasters and telecoms operators."
The Audemat group acquired in 2006 Ecreso, a manufacturer of transmitters for FM radio and digital television, and two years later Nortek, a broadcast test and measurement equipment manufacturer.
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