07:00 Tue 27 Apr 2021
Focusrite PLC - Acquisition of Sequential LLC
Strictly embargoed until 07.00,
Focusrite plc
("Focusrite" or "the Group")
Acquisition of Sequential LLC
Focusrite plc (AIM: TUNE), the global music and audio products company, today announces the acquisition of Sequential LLC ("Sequential"), a
The total consideration to be paid is
Sequential is headquartered in
The Sequential portfolio of high end analogue synthesizers dramatically expands the footprint the Group has with its Novation branded instruments , offering more premium priced solutions for electronic artists. The Group also sees the possibility of future synergies between the Sequential and Novation's R&D teams to bring new innovative products to market that will further the Group's mission of "removing barriers to creativity".
In the year to
This is the third major acquisition made by Focusrite since its flotation in
By extending the Group's business into new products and markets, which complement its existing offerings, the acquisition is strategically aligned with the Company's previously communicated aims of growing the core customer base, expanding into new markets and increasing lifetime value for customers.
"It is an absolute pleasure to welcome Dave and the entire Sequential team to the Focusrite Group. Sequential adds to our rich heritage of innovation and passionate people who are dedicated to making world class solutions for musicians. For us, Sequential is a perfect fit, and a logical choice to add to our Group. While Sequential will continue to operate as a separate business unit with a very robust roadmap, we are all excited about the opportunities and possibilities that lie ahead with the collective expertise of the Sequential and Novation R&D teams."
Phil Dudderidge, Chairman, commented:
"We are excited and pleased to add Sequential's instruments and pedigree to Focusrite Group's portfolio of world-class audio and music production tools.
"With Focusrite, we have found an ideal home and a perfect cultural and technological fit. Phil and his team have a long history of quality, vision, and focus on what musicians and audio professionals really want. We're excited to join such an industry powerhouse and contribute to our mutual success. I expect great things."
-ends-
Enquiries:
Focusrite plc: +44 1494 462246
Tim Carroll (CEO)
Sally McKone (CFO)
Panmure Gordon (Nominated Adviser and Broker) +44 20 7886 2500
Freddy Crossley / Alina Vaskina
Erik Anderson
Belvedere Communications +44 20 3687 2756
John West
Llew Angus
The information communicated in this announcement contains inside information for the purposes of Article 7 of the Market Abuse Regulation (EU) No. 596/2014.
Notes to Editors
Focusrite plc is a global music and audio products group that develops and markets proprietary hardware and software products. Used by recording professionals and musicians alike, its solutions facilitate the high-quality production of recorded and live sound. The Focusrite Group trades under seven brands: Focusrite, Focusrite Pro, Novation, Ampify, ADAM Audio, Martin Audio and Optimal Audio.
With a high-quality reputation and a rich heritage spanning decades, its brands are category leaders in the music- making and audio recording industries. Focusrite and Focusrite Pro offer audio interfaces and other products for recording musicians, producers and professional audio facilities. Novation and Ampify products are used in the creation of electronic music, from synthesisers and grooveboxes to industry-shaping controllers and inspirational music-making apps. ADAM Audio studio monitors have earned a worldwide reputation based on technological innovation in the field of studio loudspeaker technology. Martin Audio designs and manufactures performance-ready systems across the spectrum of sound reinforcement applications. Optimal Audio is a commercial audio brand offering a one-stop solution of control, amplification, and loudspeakers for small to medium-sized commercial installations with a focus on multi-zone venues.
The Focusrite Group has offices in four continents and a global customer base with a distribution network covering approximately 160 territories.
Focusrite plc is traded on the AIM market, London Stock Exchange.
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