Press Releases & Media » BridgeCo Sells Pro-Audio Business
BridgeCo Sells Pro-Audio Business
BridgeCo Press Release - Business Wire on 18/08/2009
BridgeCo Inc. Sells Off Pro-Audio Business in BridgeCo AG |
August 18th, 2009: Allows Increased Focus For Tier 1 Consumer Electronic Customer Base and Industry Leading Home Networking/Connectivity Technologies Huntington Beach, CA (18 August 2009) -BridgeCo Inc. (www.bridgeco.com), a leader in networked entertainment technology is announcing the sale of the Company's Switzerland based operations and AG company responsible for the ProAudio and BeBoB business. This divestiture is a strategic move that allows BridgeCo Inc. to focus on their expanding world wide Consumer Electronics (CE) business. Demand for network and internet connectivity is here for mainstream CE products for the home. With the rapidly expanding internet radio services, premium broadband music services and home networked media sharing needs, the desire for BridgeCo products and technologies has never been greater. "BridgeCo's Tier 1 customer base and market leadership is continuing to grow rapidly" says Jordan Watters, BridgeCo's Sr. VP of Sales and Marketing. "With this growth and substantial business opportunity, we must focus all our efforts and resources on the CE market and supporting our global brand customers". BridgeCo continues to lead the CE market as an independent platform for home product connectivity. BridgeCo's advanced JukeBlox platform combines the industry's most integrated networked media processor with the most comprehensive software/middleware stack and SDK. BridgeCo solutions have captured over half of the world's global brands that manufacture networked audio products. "This structural change and divestiture allows our entire business, development and support resources to focus on the CE market and customers" said BridgeCo CEO Gene Sheridan. "In the very near future every radio, stereo and audio system will have a network interface and BridgeCo will be the backbone technology that drives many of these consumer products. We must put all our efforts into driving this market and supporting our customers and partners." BridgeCo Inc. will continue to operate and support customers world wide. "BridgeCo has been expanding it's development and support resources in it's new India Development Center over this past year" says Sheridan. "This growing engineering and operations team, along with our expanding base of licensed development partners gives us unparalleled position for expanding our leadership, innovative technology development and world class customer support". BridgeCo Inc. (USA), the parent company, will divest it's BridgeCo AG (Switzerland) company allowing them to focus on the ProAudio business. The spin-off company is reinventing itself under the new name "ArchWave", and is taking over the entire Pro Audio and BeBoB businesses historically supported by BridgeCo. The new company, ArchWave, secured additional financing to help launch the new venture and maintain the current product line and support of their silicon and software solutions for professional and semi-professional audio applications. BridgeCo Inc. resources focused on the CE market and customer base remain intact. About BridgeCo BridgeCo Inc. is a leading provider of network media processors and related software, middleware and SDK solutions for enabling network and internet connectivity in home CE products. BridgeCo is an ISO 9001 and ISO 14001 certified company with operations in Huntington Beach, California, Zurich, Switzerland and Bangalore, India. Its key investors include Advent Venture Partners, Balderton Capital (formerly Benchmark Capital Europe), Cipio Partners, Earlybird Venture Capital, ETV Capital, Fidelity Ventures, Intel Capital and Wellington Partners. #### All trademarks are the property of their respective owners |