Corsair acquires Scottish audio firm Simple Audio
Corsair seems poised to expand its audio offering as the company just bought Scottish audio firm Simple Audio in a multi-million dollar deal. Simple Audio makes high definition audio players to manage and play your music the way you want it from your PC, Mac, iPhone, iPod Touch or iPad. Simple Audio is a networked audio company based in Scotland and announced that it has been acquired by leading US-based PC enthusiast hardware company Corsair® in a multi-million dollar deal. The deal marks another positive chapter in the Simple Audio story and puts the company in a strong position to extend its reach globally.
Simple Audio's world-class engineering and product development teams will continue to develop and market the company's range of music streaming products from its offices in Glasgow, Scotland.
Simple Audio released its first range of networked audio products last year into UK and European markets where the young company quickly built a strong reputation for superior sound quality and exceptional product design.
Peter Murphy, Founder and CEO of Simple Audio commented:
“When I started Simple Audio the aim was to make high quality digital music accessible to more people. Now the company is in a much stronger position to make this a reality. Corsair's extensive resources and worldwide distribution infrastructure will undoubtedly help Simple Audio achieve its ambitions, including plans to launch our products in the USA and Asia during 2013. We’re delighted to be a part of Corsair and very excited about the future.”
Corsair, with half a billion dollars in annual revenue, has built an excellent reputation for designing and manufacturing innovative, high-performance components and peripherals for PC enthusiasts and gamers.
Andy Paul, President and CEO of Corsair commented:
“We have followed Simple Audio as a potential investment opportunity since 2010 and we are extremely impressed by their vision of HD digital music in the post-iPod era. Their high quality, high-performance Roomplayer system demystifies and simplifies the process of playing digital music throughout the home. We believe now is the right time to invest in the fast-growing digital music space and are delighted to help Simple Audio bring their incredible vision into reality and to music lovers around the world.”
Simple Audio received investment in the early stages of its growth from the Edinburgh based investor syndicate PAR Equity and from the Scottish Enterprise Co-Investment Fund. This funding was paramount in helping to support the company’s product development plans.
Kerry Sharp, acting head of the Scottish Investment Bank, said:
“Simple Audio has always been an innovative and ambitious company, and that’s what we’re here to support. Its success and growth is a positive statement about the standard of investment opportunities Scotland’s young, thriving and adventurous companies have to offer. We’re delighted that their technology has been recognised by an international business like Corsair. It’s a great opportunity to develop the brand and secure a skilled workforce in Scotland. It also now enables us to recycle our funds into other innovative Scottish companies with high growth potential."
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