Belfast audio technology company APT has sold its broadcast hardware division to French firm Audemat group in a multi-million euro deal.
The company did not reveal the precise fee paid for the business, but said the funds received would help bolster its licensing division at a time when funding from other sources might become scarce.
Noel McKenna, chief executive of APT, said the sale marked a shift towards making licensing of its apx-X technology its core business.
He said: “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.”
He said APT Licensing now planned to step up its focus on efforts to license apt-X into consumer electronics applications and professional audio markets.
In the last year APT has announced a series of tie-ups for its audio compression technology with manufacturers of wireless headphones, iPod accessories and bluetooth mobile headsets, including Creative Labs, Bluegiga, Shure and JayBird. As part of the deal announced yesterday the firm’s WorldCast and WorldNet broadcast technology will become part of Bordeaux-headquartered Audemat, a provider of broadcast equipment and technology to the television and radio industry and telecoms operators.
APT hardware will continue to be responsible for the design and manufacture of electronic hardware and related software.
It employs 38 people across management, engineering, sales, marketing and administration.
Bruno Rost, president of the Audemat group of companies, said: “A large number of radio and TV broadcasters customers are looking for simple solutions to guarantee the interoperability between different technical bricks.”
Mr McKenna said: “APT’s broadcast hardware division has a powerful synergy with the capabilities, ambitions and culture of the Audemat group.”