FOR IMMEDIATE RELEASE
6th March 2017
Advantage Business Partnerships advises on the sale of SoundField to Freedman Electronics Group on behalf of client TSL Products
Advantage Business Partnerships, performance improvement specialists, are pleased to have supported their client TSL Products in negotiating and completing the sale of the surround sound recording marque Soundfield to the Freedman Electronics Group.
SoundField invented 360-degree surround sound – or ambisonic – audio capture technology in 1978, and remains the premier brand in the world. Today the range includes innovative ambisonic microphones, and systems/apps for broadcast, music and location recording. Soundfield will now make a valuable addition to the portfolio of the Freedman Electronics Group, which is home to pro audio brands RØDE Microphones, Event Electronics and Aphex.
Advantage Business Partnerships acted for the vendor on the deal as part of a broader strategy for growth and improved performance. ABP provided commercial vendor due diligence responses to the purchaser and advised on structural options for the deal, as well as directly managing the various legal and tax advisors on both sides and the correspondence between all parties, including the operational resolution to key hurdles that arose during deal negotiations.
TSL Products’ Managing Director, Chris Exelby, and RØDE Founder and Managing Director, Peter Freedman AM, completed the deal that now sees Freedman Electronics take control over the entire SoundField company, including the current product line as well as all IP associated with the iconic brand. The existing product line will continue, and all support and warranty for SoundField products will now be handled through the new entity. TSL Products will retain the upmix/downmix processing product range, which will be rebranded.
Matthew Quade, Head of Performance Improvement at Advantage Business Partnerships, commented: “ We’re very pleased that this sale completed successfully, with great benefits for both vendor and purchaser. Our role was to provide expert commercial management and direct hands-on problem-solving assistance to ensure the successful conclusion of the deal as part of a broader strategy to grow TSL Products’ business and bring tangible improvements in performance from top line to bottom line. The sale will enable our client, TSL Products, to invest for growth across their core product lines by accelerating R&D, and gaining entry into new markets.”
Chris Exelby, Managing Director, TSL Products, commented, “We’re proud to have brought the revolutionary SoundField microphone and processor range to its current prominence across many sectors, from live sports and broadcast events to music recording, and now to VR. It is fitting that SoundField has now found a new home with one of the world’s most innovative microphone manufacturers, where it can be developed still further, while we at TSL Products focus on our core broadcast business and invest further in the crucial R&D that will lead to the next generation of broadcast control, monitoring and power management solutions.”
The Freedman Electronics Group MD is delighted with the purchase. Peter Freedman said: “I’m extremely excited we have added the SoundField product line to the Group. RØDE is a power player in studio and live microphones and the world’s market leader in on-camera mics, so adding a product line like SoundField – with its unique surround sound microphones and applications – to our portfolio is a real step for the Freedman Electronics Group.”
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For more information please contact:
Advantage Business Partnerships:
Phone: 07870 727715
Deputy Managing Director
Phone: 07887 627 764
About Advantage Business Partnerships: Advantage Business Partnerships Ltd . (www.advantagebusinessltd.com) provide businesses with coaching, mentoring and consultancy services and are performance improvement specialists. Their team of business experts have a wealth of experience from a range of different business backgrounds and work in partnership with business owners to help grow their business, large or small.
About TSL Products:TSL Products designs, manufactures and markets a range of hardware and software solutions that serve to simplify operations within the television broadcast, cable, satellite, IPTV and IT industries. Specialising in audio monitoring, broadcast control systems and power management tools, TSL Products’ solutions satisfy and exceed the commercial, technical and operational requirements that exist in IT-based and traditional workflows, helping its customers to lower costs, generate revenue and streamline operations. TSL Products are based in Marlow, Buckinghamshire.
About RØDE Microphones: RØDE Microphones (www.rode.com) designs and manufactures high-quality microphones and related accessories for studio, live and location use. Its products are designed and primarily manufactured in Sydney, Australia and exported to over 110 countries globally.
Advantage Business Partnerships Ltd (www.advantagebusinessltd.com) provide businesses with coaching, mentoring and consultancy services and are performance improvement specialists. Our team of business experts have a wealth of experience from a range of different business backgrounds and work in partnership with business owners to help grow their business, large or small.
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