Pure sets sale from Imagination Technologies
London, 29th September, 2016: British digital radio manufacturer, Pure, has today announced that it has been sold to an Austrian investment company, AVenture GmbH. This transaction enables Pure to solidify its position as the world’s leader in digital radio and focus on its core radio markets: home audio and automotive.
The sale, which was originally announced in February 2016 by its previous owner, Imagination Technologies PLC, is due to be completed on 30th September and is done so as a going concern.
The purchase of Pure marks AVenture GmbH first investment both in a consumer electronics brand and in the UK. Pure, which was established in 2002 and employs around 65 people will keep all existing staff in place, enabling a seamless transition for the company.
Markus Steck, director at AVenture GmbH, comments: “The experience, knowledge and capability of the team, its enviable customer base, reputation and the strength of the current product portfolio alongside its roadmap are all key to Pure’s future.”
Over the last 12 months, Pure has made a significant re-alignment to its organisation to match the focus on its core radio business. While completing these changes, Pure has enjoyed continual growth in its sales performance and has continued to strengthen its roadmap around radio.
Commenting on the deal, Pure’s general manager, Paul Smith said: “We have an ambition to grow, and under the umbrella of AVenture, we can achieve that. The future for DAB+ across Europe is extremely exciting and Pure is a leading brand in a rapidly growing market, driven by geographical adoption and digital switch over. We have a strong vision for the future with innovation at the heart of this, giving Pure a unique opportunity within the market“.
As the pioneers of digital radio and the first to fully embrace the technology in 1999, Pure has become the world’s leading digital radio manufacturer, with over five million sold worldwide.
Passionate not just about radio, but quality audio; Pure designs and engineers its radios in its state-of-the art engineering facilities just outside of London.
Benefitting from its heritage of developing award-winning digital radio products for the home and the car; all products are digital tick approved, with industry leading three years warranty as standard.