The sound specialist known for the 3D sound codec Auro-3D, which filed for bankruptcy at the beginning of June, is being taken over by Saffelberg Investments.
At the beginning of June, the company Auro Technologies, internationally known for its sound format “Auro 3D”, had to file for bankruptcy. Now the company, which is in competition with Dolby and DTS, announced that the business will continue: The private equity company Saffelberg Investments will acquire all assets of Auro Technologies and will be responsible for the future development and commercialization of the Auro 3D technology engage. Like Auro, Saffelberg is also based in Belgium.
A new holding company called NewAuro BV will maintain the sound specialist’s development team and support existing customers. A solid strategic vision combined with a healthy balance sheet should enable future growth. Major audio industry brands have expressed interest in partnering with Auro-3D, both on the technology and content side. Existing Auro-3D platforms and tools in the areas of audio coding, audio rendering and upmixing would be further developed.
In an interview with c’t, the company’s founder and CEO, Wilfried van Baelen, explained at the time that the step into insolvency had become necessary after a deal with a new investor collapsed after several months of negotiations. The interested parties dropped out after it turned out that the increase in sales they were asking for could not be achieved under the current market conditions.
Hard-fought market
It is unclear whether these investors were already Saffelberg Investments. So far, it has not been announced what purchase price the private equity company paid for Auro Technologies or what sales expectations it has.
In the announcement, Auro Technologies also addresses the introduction of a streaming codec called “Auro-Cx”. This would finally give the company a possible competitor to Dolby Digital Plus, which forms the basis for Dolby Atmos at Dolby. However, when it was introduced, DTS was likely to have already made its streaming codec with DTS:X support, which had been announced for some time, available and which is to be introduced as part of the IMAX Enhanced program.
The new team will be led by CEO Rudy Van Duppen and CTO Bert Van Daele, who together have 20 years of experience with Auro-3D technology. The board of directors will consist of Saffelberg director Luc Osselaer and industry veteran Wiebo Vaartjes, former executive vice president and CEO of Philips Lifestyle Entertainment.
(nij)
