CSR expands audio expertise with acquisition of APT
apt-X audio compression technology set to extend CSR’s wireless audio leadership and enhances its expansion into new audio markets
Cambridge, UK - 28th July 2010 – CSR plc (CSR) today announced the acquisition of Belfast-based APT Licensing Ltd, (APT), following a successful three year collaboration under the CSR eXtension Partner Programme, which saw APT’s professional quality audio compression brought to consumers on CSR's wireless audio platforms. The acquisition enables a tighter integration of the apt-x low latency audio compression CODECs with CSR’s next generation audio products. The acquisition also enables CSR to substantially strengthen its offering in the growing real-time streaming audio market for mobile and wireless consumer applications and support its expansion into broader audio markets.
APT is renowned for non-destructive, transparent, audio compression solutions, which retain the full integrity of the original digital audio and are optimised for instant real-time audio streaming. The apt-x suite of audio compression algorithms has earned a reputation for some of the highest audio quality, combined with extremely low latency and strong resilience to bit errors, having been proven in wireless, broadcast and professional live performance applications.
APT joins CSR with existing IP licensing agreements in place with industry-leading consumer and technology brands, including Altec Lansing, Creative, Jaybird, and Sennheiser.
CSR’s CEO Joep van Beurden commented, “In acquiring APT, CSR is buying one of the industry's strongest audio IP portfolios and a 20 year heritage in audio expertise. The closer integration of APT’s IP with our own technologies will expand the market for its technology to more mainstream consumers and enable us to realise benefits that neither party could achieve independently. CSR is a leader in wireless audio, and the addition of APT will enable us to develop an exciting new generation of excellent quality, highly differentiated products that will further enhance the consumer experience. This will also serve to extend CSR’s capability in wireless audio platforms and help us to broaden our offering into new audio markets and revenue streams.”
The apt-x algorithm sets the base-rate quality much higher than many audio CODECs, offering a consistently excellent experience. apt-x is particularly suited to Bluetooth and its high performance has already gained it an excellent reputation, as demonstrated by numerous independent product reviews of currently shipping end products such as the Sennheiser PXC 310 Bluetooth headphones.
Another of APT’s latest CODECs, apt-x Lossless focuses on delivering the ultimate in audio quality providing an uncompromised user experience; its ultra low latency and low power consumption make it suitable for portable, battery-driven applications requiring the highest audio quality.
APT has been working on the development of scalable CODECs that can be adapted for specific acoustic environments, battery life savings, latency and error resilience. CSR sees great potential in this technology which offers the opportunity to create new, fully adaptive audio platforms.
APT and CSR started working together in 2007 when APT became part of CSR's eXtension Partner Programme. The Programme delivers high quality audio enhancements to CSR's Bluetooth technologies, and apt-x CODECs have been offered as options on CSR's powerful digital signal processor (DSP) in its BlueCore multimedia products. CSR now embeds this Kalimba DSP into the vast majority of its products, and high quality stereo audio has become an essential part of today's mobile devices and consumer electronics.
Other solutions from the APT suite of audio CODECs include apt-x Standard, which is widely known as the grandfather of broadcast and distribution CODECs and has two decades of successful implementations under its belt. apt-x Enhanced and apt-x Live CODECs were developed for the professional and broadcast audio markets. These technologies have now migrated into consumer electronics where there is an obvious increase in demand for superior audio performance.
"We're very proud of what APT has achieved over the last 20 years and are delighted to be joining CSR in what is a very positive step towards the increased proliferation of the high quality CODECS, into broader mobile and wireless consumer applications,” said Noel McKenna, CEO of APT. “Both CSR and APT's engineering teams share the same passion for audio and have proven their ability to collaborate successfully over the last three years. Through even closer integration of our CODECs with CSR's wireless technology I see a very exciting future ahead."
All seventeen of APT’s highly qualified and experienced full-time staff will become an integral part of CSR’s audio platform team, and CSR plans to retain the apt-x product brand.
CAUTIONARY NOTE REGARDING FORWARD LOOKING STATEMENTS
This communication contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995 which represent the current expectations and beliefs of management of CSR plc (“CSR”) concerning the acquisition of APT Licensing Limited (“APT”) and other future events and their potential effects on CSR, including statements relating to the benefits expected to be achieved, the ability of CSR to develop the technology and expand into broad audio markets, CSR’s plans, objectives, expectations and intentions and other statements, including words such as “enable,” “plan,” “expect,” “will,” and other similar expressions. Such statements are based upon the current beliefs and expectations of CSR management, are not guarantees of future results and are subject to a significant number of risks and uncertainties, and actual results may differ materially from the results anticipated in these forward-looking statements. Those risks and uncertainties include, without limitation: the ability of CSR to substantially strengthen its offering in the growing real-time streaming audio market for mobile and wireless consumer applications, and support expansion into broader audio markets and develop new revenue streams, the ability to realize benefits that neither party could achieve independently, the ability to develop a new generation of excellent quality, highly differentiated products that will further enhance the consumer experience, the ability to integrate APT’s businesses into those of CSR’s in a timely and cost-efficient manner; the development of the markets for CSR’s products; weak economic conditions and the difficulty in predicting sales; factors affecting CSR’s quarterly results; sales cycles; price reductions; dependence on and qualification of foundries to manufacture CSR’s products; production capacity; the ability to adequately forecast demand; customer relationships; CSR’s ability to compete successfully; the ability of CSR to retain APT’s staff; and other risks and uncertainties, including those detailed from time to time in CSR’s periodic reports filed with the United States Securities and Exchange Commission (“SEC”), including its Annual Report on Form 20-F. The forward-looking statements in this communication are qualified by the risk factors set forth in those documents. Each statement speaks only as of the date of this communication (or any earlier date indicated in this communication) and CSR undertakes no obligation to update or revise any forward-looking statements to reflect subsequent events or circumstances.
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