Pure radio business sold to Austrian firm for £2.6 million

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UK company Imagination Technologies has sold the Pure radio business to Austrian company AVenture AT.

Imagination confirmed the Pure business is being sold on a cash and debt-free basis for £2.6 million in cash.

Pure, which was established in 2002 and employs around 65 people, has said it plans to retain all its staff and remain in the UK.

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

Pure says it plans to focus on its core radio business in an effort to be at the forefront of DAB+ radio growth across Europe.

UK technology company Imagination Technologies, which supplies semiconductors and chips to brands such as Apple, announced its intention to sell the Pure business at the start of the year.

Imagination pointed to the increasing losses of the Pure brand and said it believed there were "more appropriate owners for Pure". In the year to 30th April 2016, Pure made a £7.9m loss before tax.

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Joe Cox
Joe Cox
Content Director

Joe is the Content Director for What Hi-Fi? and Future’s Product Testing, having previously been the Global Editor-in-Chief of What Hi-Fi?. He has worked on What Hi-Fi? across the print magazine and website for almost 20 years, writing news, reviews and features on everything from turntables to TVs, headphones to hi-fi separates. He has covered product launch events across the world, from Apple to Technics, Sony and Samsung; reported from CES, the Bristol Show, and Munich High End for many years; and written for sites such as the BBC, Stuff, and the Guardian. In his spare time, he enjoys expanding his vinyl collection and cycling (not at the same time).