British digital radio manufacturer Pure has announced that it has been sold to an Austrian investment company, AVenture GmbH.
The sale, which was originally announced in February 2016 by its previous owner, Imagination Technologies PLC, is due to be completed on September 30 and is done so as a going concern.
The purchase of Pure marks AVenture GmbH’s 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.
AVenture GmbH director Markus Steck commented: “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, the company notes.
Pure general manager Paul Smith added: “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.”