"This move will help us to concentrate on what we do best: providing high quality digital audio solutions for the broadcast and public address markets." said Digigram's managing director Philippe Delacroix. "We have many exciting product developments in the pipeline that demand all our attention and energy. Although Audemat-Aztec will continue to develop products using Digigram technology, the commercial and technological overlap with the Audemat-Aztec's product portfolio isn't big enough to justify our continued minority involvement."
The sale of the Audemat-Aztec shares further strengthens Digigram's financial position, which is characterized by high cash reserves and low debt. "The reorganization of the Digigram group in 2002 and 2003 has considerably lowered our break-even point enabling us to adjust to changed market conditions over the long term," said Delacroix.
Audemat-Aztec was formed 1 January 2003 in a merger between Audemat and Digigram subsidiary Aztec Radiomedia. At the time, Audemat shareholders received 60% of the new company with the remaining 40% held by Digigram. Digigram will continue to manufacture, support and sell the Hitplayer, a stand-alone appliance for audio IP networks formerly developed by Aztec Radiomedia.
(Sarah Rushton-Read)
