Portland, OR company will use partnership to fuel growth and acquisitions
Boston, MA — November 5, 2018 – Battery Ventures, a global, technology-focused investment firm, has reached an agreement to acquire Audio Precision Inc. (AP), a well-recognized player in high-performance instrumentation and software for audio testing and analysis. Terms of the transaction were not disclosed.
Based in Portland, OR, Audio Precision—founded in 1984—makes technology to help engineers design, test and manufacture audio components, products and systems. These products and systems range from semiconductors to consumer devices like headphones, speakers and smartphones, as well as professional audio products. Specifically, the company provides high-end audio analyzers and audio measurement software, as well as a range of modules and accessories to support electronic audio and electro-acoustic measurement.
By partnering with Battery, Audio Precision will gain additional resources to continue fueling its organic growth, and capital to fund potential acquisitions.
“Audio Precision has built an extremely strong business in this segment of the test and measurement technology market, and we are excited to partner with the company as it begins its next chapter of growth,” said Battery General Partner Jesse Feldman, who is joining Audio Precision’s board along with Principal Zack Smotherman.
“Audio Precision epitomizes the type of company and brand in which we like to invest, and we are looking forward to pursuing acquisitions to supplement organic growth and product development,” added Smotherman.
Added David Schmoldt, Audio Precision’s CEO: “We were impressed with the wealth of experience in Battery’s industrial technology practice and are looking forward to working closely with the firm. We share a common vision for growing AP and making it even stronger as the need for performance audio test equipment grows in a variety of markets.”
Battery Ventures provides investment advisory services solely to privately offered funds. Battery Ventures neither solicits nor makes its services available to the public or other advisory clients. For more information about Battery Ventures’ potential financing capabilities for prospective portfolio companies, please refer to our website. *Audio Precision is a Battery portfolio company.
About Battery Ventures
Battery Ventures strives to invest in cutting-edge, category-defining businesses in markets including software and services, Web infrastructure, consumer Internet, mobile and industrial technologies. Founded in 1983, the firm backs companies at stages ranging from seed to private equity and invests globally from offices in Boston, the San Francisco Bay Area, London, Israel and New York. Follow the firm on Twitter @BatteryVentures or visit our website at www.battery.com.
About Audio Precision
Audio Precision is a significant global player in electronic audio and electro-acoustic test instrumentation. Since 1984, AP’s analyzers have helped engineers to design and manufacture innovative solutions ranging from semiconductor devices to consumer, automotive, and professional audio products. For more information, visit http://www.ap.com/.
Marketing Director, Battery Ventures