APT secures funds for buyout

June 6, 2005

Belfast-based audio compression maker Audio Processing Technology (APT) has secured significant equity and debt funding to complete a management buyout from its former owner, Oxfordshire-based Solid State Logic.

The deal will enable the company to boost its sales and marketing activities and to continue to fund research into new technologies that will benefit its customer base. APT has two identifiable business units: manufacturing audio codecs and licensing its apt-XÔ algorithm.

The radio broadcast market is where APT currently leverages its primary profitability, with key licensees such as Pulsecom and Harris. Hardware customers include BBC, BT, Teracom (Sweden), Fuji TV (Japan) and NPR (USA). Among the company’s many customers is SkyWalker Sound, which uses apt-XÔ to enable film directors to approve 5.1 audio mixes over the Internet.

For more information, visit www.crescentcapital.co.uk and www.tvc.com.

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