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Pure sold to Austrian investment company

British digital radio manufacturer Pure has been sold to Austrian investment company AVenture.

According to an article on The Telegraph website, the company was sold for a sum of £2.6 million. A spokesperson from Pure said they were unable to confirm the figure until the sale is completed.

Pure said that the deal would enable it to solidify its position as the ‘world’s leader’ in digital radio.

The sale was originally announced in February 2016 by then owner Imagination Technologies. It is due to be completed on September 30.

This is AVenture’s first investment into a consumer electronics brand and into the UK. Pure’s 65 members of staff will remain in place to enable a seamless transition.

Markus Steck, a director at AVenture, said: “The experience, knowledge and capability of the team, its enviable customer base, reputation and the strength of the current product portfolio alongside its road map are all key to Pure’s future.”

Over the past 12 months, Pure said that it had made a significant realignment of its organisation to match the focus on its core radio business. The company said it was seeing continued growth in its sales performance as well as a strengthening of its radio offering.

Pure’s 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 switchover. We have a strong vision for the future with innovation at the heart of this, giving Pure a unique opportunity within the market.”

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