Audio software company Sonnox has been acquired in a £9.1 million deal.
The Oxford company will join AIM-listed Focusrite, a global music and audio products group based in High Wycombe.
Focusrite plc supplies hardware and software used by professional and amateur musicians and the entertainment industry. Sonnox designs audio processing software plug-ins for professional audio engineers and is used in a wide range of audio applications including mixing for music production, live sound, broadcast, TV & Film, and even scientific and forensics projects.
The deal includes £2.1m of cash and will be funded from existing facilities with HSBC and NatWest. Following the acquisition, the enlarged group will have net debt of approximately £13m.
For the year ended 31st March 2022, Sonnox’s revenue was £2.4m with profit before tax of 900,000 and gross assets of £3m.
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