London hardware and software provider expands with £40m US audio specialist acquisition
The Vitec Group PLC, the international provider of premium branded hardware products and software solutions, announced that it has agreed to acquire Audix LLC for up to $54.3 million (£39.9 million).
Audix designs, engineers, and manufactures “high performing, innovative microphones” for the professional audio industry from its advanced manufacturing facility in Portland, Oregon, US.
The acquisition accelerates and further strengthens Vitec’s audio capture strategy by bringing additional specialist R&D capabilities to enable the group to design and build microphones in-house.
Stephen Bird, Group Chief Executive, commented: “Audix is a strategically significant addition to Vitec and a key element of our audio capture strategy. Audio capture is an essential part of video creation as it enhances the quality of the content.
“We know the audio capture market, the channel and the customers well, and Audix’s specialist R&D capabilities will accelerate our product innovation, which is mainly focused on developing microphones under the growing JOBY brand.
“The acquisition also gives the group a premium microphone brand which we will expand by selling the Audix products through our global distribution network and e-commerce channels.
“In addition, Audix brings state-of-the-art manufacturing facilities in the US which provides the opportunity for synergies.”
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