APT management buyout completed

APT (Audio Processing Technology), the Belfast-based audio compression specialist, has secured significant equity and debt funding which has enabled the company to complete a management buyout from its former owner, Oxfordshire-based Solid State Logic.
Equity for the buyout was provided by venture capital companies Crescent Capital and Trinity Venture Capital and APT’s senior management (Managing Director Noel McKenna and Commercial Director Jon McClintock). Bank of Ireland provided the debt funding. 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 is regarded as an industry leader having developed a highly acclaimed audio compression algorithm – apt-X.
This technology is recognised worldwide as providing the highest quality audio and, as a result, it has achieved international penetration in the worlds of radio broadcasting and other professional audio applications.
(GB)