CSR expands audio expertise with acquisition of APT
Posted: Wednesday, July 28th, 2010 at 10:48 am
CSR expands audio expertise with acquisition of APT
apt-x audio compression technology set to extend CSR’s wireless audio leadership and enhances its expansion into new audio markets
Cambridge, UK – 28th July 2010 – CSR plc (CSR) today announced the acquisition of Belfast-based APT Licensing Ltd, (APT), following a successful three year collaboration under the CSR eXtension Partner Programme, which saw APT’s professional quality audio compression brought to consumers on CSR’s wireless audio platforms. The acquisition enables a tighter integration of the apt-x low latency audio compression CODECs with CSR’s next generation audio products. The acquisition also enables CSR to substantially strengthen its offering in the growing real-time streaming audio market for mobile and wireless consumer applications and support its expansion into broader audio markets.
CSR’s CEO Joep van Beurden commented, “In acquiring APT, CSR is buying one of the industry’s strongest audio IP portfolios and a 20 year heritage in audio expertise. The closer integration of APT’s IP with our own technologies will expand the market for its technology to more mainstream consumers and enable us to realise benefits that neither party could achieve independently. CSR is a leader in wireless audio, and the addition of APT will enable us to develop an exciting new generation of excellent quality, highly differentiated products that will further enhance the consumer experience. This will also serve to extend CSR’s capability in wireless audio platforms and help us to broaden our offering into new audio markets and revenue streams.”
“We’re very proud of what APT has achieved over the last 20 years and are delighted to be joining CSR in what is a very positive step towards the increased proliferation of the high quality CODECS, into broader mobile and wireless consumer applications,” said Noel McKenna, CEO of APT. “Both CSR and APT’s engineering teams share the same passion for audio and have proven their ability to collaborate successfully over the last three years. Through even closer integration of our CODECs with CSR’s wireless technology I see a very exciting future ahead.”
Hal Wilson of Crescent Capital, APT’s principal investor, commented, “the sale of APT to CSR represents the final chapter of this successful investment for Crescent with the company’s hardware division having previously been sold to the Worldcast Group in 2009. We see CSR as been a natural fit for APT and wish the combined forces every success in ensuring the dominance of APT’s technology in the wireless audio marketplace.”
All seventeen of APT’s highly qualified and experienced full-time staff will become an integral part of CSR’s audio platform team, and CSR plans to retain the apt-x product brand.
